:.write downs dpf and dpfi, page-13

ok,
so now i get the general gist of that, after making a dik of myself.

it seems that these writedowns are, to a fair extent, a direct result of the short selling of cer, which is due to the incorret classification of current debt as non current.

if so, then it seems to me that it is somewhat cosmetic, as it is not a result of actual earnings.

cnp has been smashed
one must really know their stuff to take a chance that the sp will have a negative knee jerk reaction at the HY accounts.

Isn't already trading at a p/e of 1?
and why not wait till the 30th of april, if you are concerned about risk, as that seems a lot more critical to me?
If i had the choice, and thought centro was still viable, i would do half before the ann report and half after.

Wouldn't the suggested class action be more of a concern?
and doesn't the wrong classification of so much debt seem a trifle bizzare? Wonder what the explanation will be.

Also i note that that that "awful" dpfi chart is not that surprising, since it has a heavy CRIT (46.3% cer?) component, and (not too sure if this has an effect on the distributions, but) 99% of it is in the US, and investors would have already been having a major panic as a result of the subprime. Wouldn't surprise me of that was somewhat over done. The yanks love to over react.

Surely the vultures are already taking pecks at it now, since it it close enough to the last years dividend?

At what price are the shorters expecting to buy back in at?

Anyway, fasinating stuff.