upgrade from ba, page-3

I believe that one of the major problems PIH sp is facing at the moment is the lack of clarity on the accounts after recap. On one hand we have the lack of interest from the local market and on top of that, whoever may have a genuine long term interest on PIH doesn’t know what they getting into. When PIH presents their accounts in February something will happen, the thing is that I wouldn’t believe anyone is in a position of saying in which direction this stock will run. In the real long term, after management has made the appropriate changes and dividends have been paid and accounts are clear there is no other direction than north, but at the moment it seems to me like a magnetic storm is on the horizon. Hopefully PIH will see the long 4 or small 5 before the end of 2010. Still too much uncertainty towards the price but definitively no big risk.