to all the mug punters out there

Why do you continue to punt on a stock
* that has zero growth prospects (their loan book is all but frozen and can only now run off - together with any chance of future profits)
* has a huge cloud hanging over them as to whether they can even fund their existing loan book
* has been exited by all fund managers, whom have will have to far more sophisticated cash flow models than the average mortal
* given the insto's have exited the register they are unlikely to be investors in RHG CP paper - unless at a considerable margin over bb's. Even then their appetite/internal risk limits for RHG will be minimal.

The ONLY possible chance of making anything on the sp is if one of the banks makes an offer for the loan portfolio. But will they want to take on all of the sub-prime loans on RHG's books, and thereby degrade the asset quality of their own loan base????

There has gotta be better punts out there at the moment