Really? They lent huge money to MBN when the resource boom was nearly at peak. Did they know any boom has a end? They are not stupid maybe, but they were definitely miscalculated for what market would do. They were forced to turn the debt into shares which was a failure as debt investment.
Do you know the difference between share investment and fixed income investment? The switching from debt to shares is based on their dream that the Indonesia Nickel Ban could give their chance to get their money back and better more. Unfortunately they miscalculated again. All of new creditors could not get enough confidence for second debt and had to put the mine in liquidation.
Are you stupid? Am I stupid? We tend to believe we are more clever than the market. Are we really clever enough? You seemly have the similar dream without change. If your cleverness could not avoid your stupidity in the market how could you be sure they could not be stupid again?
When you say they are not stupid, you looks stupid to trust you should not trust. Someone said when you do the same things or similar things for different results, you are stupid. Are you really stupid? I am not sure but I do know you have miscalculated for several times about MBN.
Could you be right this time? I hope you do even I thought it is possible but unlikely!
MBN Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
