"The old saying you have to be in it to win it."
BNB derives income from management of assets. When it sells a right to manage, it is selling off future income. If it keeps on selling these rights it will end up with no business at all! BNB is not in it (managing assets) and therefore can't win. You have not seen any thing yet. If and when it sells the next mgt rights, the SP will be hammered, blood and guts on the floor.
BNB
babcock & brown limited
