Thanks for the nice words guys, but I still make lots of mistakes and wouldn't want my comments to be taken as anything more than giving an opinion on what I see at the time. Definitely not investment advice.
And my opinion can change pretty quickly given any new information. And often does.
My life at the moment just allows me more time to make comments than in the past.
I've been playing specs for too long to have an ego here....the market can be brutal.
And who knows...SGH may become a great buy given certain circumstances, but nothing at all is indicating this as yet so only for most risk adverse type traders/investors. The recap doesn't sound like it will happen for a few months yet, so plenty of time to absorb the HY report and guess what the banks might do.
One thing I did notice, was that nobody from SGH put their name to the latest announcement. Not even an address or phone number. I wonder who wrote it? I wonder if the whole board knew it was going to be announced?
I still think it is the most ethical, no-nonsense announcement made on the state of their financial situation since the crisis began.
Milesy
(20min delay)