Quote from AFR article to featuring Alex Waislitz of Thorney Investments
"Thorney has been a long-term shareholder and has suffered as Updater delayed its US float plans. It has reportedly had its valuation slashed to about $US260m ($407m) after a recent capital raising round.“Updater is a classic example of what not to do when you’re going off a listed company bourse,” Mr Waislitz says.
“We are still in there and are not happy … but you have to wait it out.
“That’s the Darwinian nature of this type of investing; there are those that take advantage and those that suffer in these difficult times.”
