re: out with it microsoft Interesting that my 2 worst performers...

re: out with it microsoft Interesting that my 2 worst performers over the last 12 months are companies, dependent on a much larger, entirely arrogant companies for their current cashflows - Hardman and Biota.

In Biota's case, Glaxo Smith Kline made a terrible mistake winding back support for Relenza just when the threat of the bird flu raised its ugly head.

In the case of Woodside the mistakes in Mauritania are legend, indicating their complete lack of expertise in West Afica. Mind you, Hardman were lucky to interest them in the first place.

Well what's going to happen now. Mauritania is becoming an embaressment for WPL and we all know what happens in large companies when this happens; a strategic re-evaluation of their business! In other words, they will sell it and fortunately there have been enough holes put down for some competent mid-sized oilers to make a reasonable bid, hopefully putting a price support under Hardman.

However, the next time I see a company dependent on a larger company for its cashflows, I'll take my own advice and run quickly in the opposite direction

Nick!