Who follows who?, page-5

The equity ownership is identical on different exchanges, so only difference is FX rate. Assuming no material short term change in sentiment (an unwise assumption), latest UK price was ~ $2.39 equivalent.

Easier said than done, but I think it's wise not to focus too much on these short term movements. The juiciest value proposition with this stock IMO will be delivered over a much longer period of time when investor sentiment shifts from "the UK is Armageddon" to "maybe the UK isn't so bad". Hopefully in the intervening period this last minute PPI ramp up doesn't cause any further damage.

Just on this point of PPI, and without discriminating against customers who were genuine recipients of wrongdoing & deserve compensation, one must question the incentives underlying these enormous final minute volumes of queries and especially those firms promoting them. In this regard, I'm
hopeful the provision estimates turn out to be conservative and grossly overstate the actual legitimate claims (less the damage done simply by sifting through the nonsense junk claims, assuming this is what they are, although they may not be) - however I would consider this outcome a bonus, and not the default position, given CYBs guidance.

Sorry to divert from the FX calc, I've been stewing over those firms who promoted the PPI compensation claims so aggressively. It seems to me these firms may, ironically, turn out to be nothing more than a bunch of PPI salesman.