I think Ronny meant 'nous' which means common sense or gumption,...

I think Ronny meant 'nous' which means common sense or gumption, according to my dictionary. 'Nuance' makes little sense in the context of this message.

Unlike you, I thought Ronny was more flattering of Michelmore than he was of Hegarty. Was Hegarty's timing a shocker? Yes. However, yesterday's poor decision is often hailed as brilliance with the benefit of hindsight.

We are not yet in a position of hindsight re the merger. Right across the board the market is in meltdown and fundamentals and commonsense has vanished. I confess I have sold down a very large number of OZL shares, way too late. The remaining I will hold for the inevitable return to 'value' rather than to a share price which reflects nothing but panic, mayhem and opportunism for the big end of town.

ps Ronny. If Owen sounded a little nervous earlier in the year, he must be close to being speechless now. I doubt if anyone could get through to speak with him these days.

OZL madness will continue unabated today - WATCH OUT! Or close the computer altogether.