talk about capitulation!, page-46

hi guys,

I too was wondering about the dividend as a catalyst for additional selldown (from my perspective as well).

I am putting my worst case scenario hat on here and assuming Challenger continues to underperform, then they will definitely have to cut back on the divi. Even for the current status quo, I would be expecting that people have a fear of an underdeliverance of prior dividend expectations.

Add to that the general perception of better short term value and lower risk elsewhere and a general loss of faith in management and that could explain the rout.

All perfectly valid reasons to re-weight ones portfolio...