The recommendation for TPM was buy back when it was $5, so now...

The recommendation for TPM was buy back when it was $5, so now it is hold at $8, and sell at $10. The argument was while NBN was nasty, they have a corporate fibre business that is representing half of their revenue and growing, which was undervalued at $5.

AYS was a buy back when it was $2, so it was a bust (now $1) because they think that TPM entry to mobile will wipe out AYS. This recommendation cost me a lot of pennies.

Vocus was just badly managed even before NBN; after NBN it will even get worse.

TLS is still going down and not reaching the bottom yet, the problem is that while the strategy they have seems sound, they are a lumbering bureaucratic monopoly that may or may not survive in open competition (it's more of their corporate culture than anything else that II does not like).