ubs out thankfully , page-7

bridge baron...

I know this stock very well...my brother had 100,000 when the first floated and I begged him to sell half his holding at $16 which he didn't because he said they were going to $25. He bought large holding at $2.50...a bargain at the time he thought. I emailed him yesterday and said he should look at going in at 18 cents. He said he had stopped following the stock as he felt so utterly defeated. My point is that's the sentiment surrounding KYC at the moment...so many people have lost money and they are over it. However the new management appear to have focused on the core recurring revenue of the business. I had a large position in MYOB ( recurring revenue theme ) and sold out at + $1.50 levels. I watched Customers Ltd ( ATM's - recurring revenue ) fall from 24 cents to 5 cents and took a sustantial postion at 8.5 cents ( 7 Mill )...SP 43% up in the last 6 months.

Looking at Keycorp it's a screaming buy but agree the share price is not going anywhere in a hurry. However does that really matter ? The management said they are going to give the $16M to the SH if they can't find something decent to do with it....that's worth a punt as they are totally focused on shareholder value. The second point is if they make the $7M profit and sustantial profits thereafter...it's a nice dividend earner. The market will eventually catch on if they are trading on a PE of 2.