Since this post started 27/7 OZL has dropped nearly $1b in market cap ($14.17 to $11.38). While the market is in a "selling frenzy" I wonder if OZL had have had $100m in the bank or $2b cash in the bank what difference it would have made to the share price.
Suggest rather than the buy-back (although at these prices.....why not) buying a TAM, with a MYG or two added in for the same $$$.
Oh, and yes the market is going further south, if things get really crazy GFC1 levels again, once things get messy investors/traders look to where we have been before as a back-stop.
Wish I had happier thoughts
OZL Price at posting:
$11.38 Sentiment: LT Buy Disclosure: Not Held
