I agree with everyone above…. All have good points. The most important thing for us, is the CDM made a profit on the transaction. The most worrying thing is that it was virtually by default, worrying when you think that CDM really hadn’t done its homework to find out what it was entitled to, very much like the old Melbourne IT. Trust takes a long time to earn, but is quickly lost, and if SH cannot see logical and commonsense decisions, and well thought out research, then they will desert CDM and sell down. SP is now well under NTA even with all the dividend and Franking credit reserves. That shows me that SH are still concerned about some of the investment decisions and strategies made by CDM management and only good returns and a rising NTA will raise SH confidence and the SP. I have no concerns about CDM, and neither does Karl judging by his recent purchases. I guess the real concern is how long will we have to wait before consistent and practical investment decisions flow through to a SP nearer to NTA. I appreciate that the market is choppy, but it’s the same for all managers.
CDM Price at posting:
97.0¢ Sentiment: Hold Disclosure: Held
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