Smug,When to buy and sell is a call that only you can make....

Smug,
When to buy and sell is a call that only you can make.
Everyone's risk appetite is different, as to the amount of cash they have idle / able to risk!

Trombone,
Similar view to your own.
Right now "uncertainty" prevails.
The mkt cap has dropped and may look cheap, but EV has sky rocketed with the rand deal.
About all we do know is there is now one less bondholder, who now ones a decent parcel of fpo.
Liquidity in the bonds might not have been there and perhaps this is their way out?
Maybe they just see more st upside in equities, vs their coupon?

Mav