I grew attached, too, GC- I felt I was getting a bit weird about...

I grew attached, too, GC- I felt I was getting a bit weird about our SIP. :) bbj seemed a little weird about her, too- hehe. I wish he'd come back- great poster, but suspended. :(

Anyhoo, update on the class action:

http://www.slatergordon.com.au/areas-of-practice/victoria/general-legal-services/class-actions/sigma

Update of proceeding

The matter returned to court for further directions on 21 June 2011. Orders for the further conduct of the matter were made as follows:

1. The time by which the Respondent is to file and serve its Defence to the Amended Statement of Claim be extended to 1 July 2011.

2. By 15 July 2011 the Applicant deliver to the Respondent the Applicant?s proposals as to the remaining discovery to be given by the Respondent.

3. By 29 July 2011 the parties confer on the question of further discovery.

4. Any application in relation to further discovery be filed and served, together with any supporting affidavit, by 12 August 2011 and made returnable before a Registrar of the Court on a date to be fixed.

5. The directions hearing be adjourned to 9.30am on 23 September 2011.

6. Costs reserved.

Sigma have now filed and served their Defence to the Amended Statement of Claim.
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2011 Half-Year Results out 28 September, so it might be over by then:

http://www.sigmaco.com.au/calendar.cfm

GC, I guess we'll both just keep bottom fishing and looking at this one. Market depth has changed a lot from when we were in:

http://cb.iguana2.com/netwealth2/depth/sip

Now most of the columns are <200k, whereas they used to be >1.2m in the past. This new market depth can make for more volatility.

As for the SP, twas this article in the AFR on July 12, and followed up by the journo, that started the decline:

http://tools.afr.com/viewer.aspx?ATL://17ecfabc-ab7a-11e0-acb6-8327c89ae0c7§ion=tools

(if you're a member). The article says there are concerns by brokers that SIP was on a PER of 19.11, and had overshot its true value. It says the SP was expected to return to 46c in 12 months time.

It seems the market has taken us there early. I'll be back with this one, but not just yet. :)

Cheers, GC.