valuation dates and book values, page-10

Swap,
No doubt there will be some revaluation of assets, but it will be far out weighted by the book writedowns CNP will be required to do as per previous half year. CNP will report a massive loss mainly due to the overall effects of writedowns, giving "journalist" another field day. As you know the changing fortunes of CER share price, eventually could lead to many of these book writedowns being reversed in the future.
The issue of assets/book values far less important than what is happening in the cashflow statement at present. Cashflow statement shows whether CNP can pay its interest bill. It amazes me the number of HC posters who have bought CNP & continually ramp it, yet have no idea about accounting (Swap not refering to your knowledge!). There are plenty of shareholders who haven't a clue about how or what CNP is worth except they figure it was a $6 stock in December so it must be a good buy now. Guess this could be called the HIH investment strategy i.e. hope like hell I am right! Not sure they understand, the "I got it wrong" alternative!
I hold CNP because I have studied the original documents on CNP not because some idiot on HC tells me they have great assets/book values.
Regards
Buffett