Ann: WDC, WRT, AMP Capital Restructure of Ownship, page-6

re: Ann: WDC: WDC, WRT, AMP Capital Restructu... hi petunia,

so sorry to hear of this news. i ask why is oz such a disgrace for so many professional finance fiddles, frauds, scams or anything else one might like to call them. i have said it many times and say it again, oz is seen as full of gullibles waiting to get robbed. i hate to say it and don't want to be seen as being unkind but the authorities seem to not have a handle on rules and regs at all. they just don't care.

i sold out pre gfc. everything was sold bar a few stocks that did ok thro the crisis, ie imf in oz and ebo in nz. after i sold i placed the dough into an oz bond fund. i was waiting for my time to reinvest. i was not waiting for the email that arrived telling me the fund had been sent to the liquidators. with cap loss and interest i lost almost half my oz dough in that fund. final payment of .04 cents was paid some while ago. it took 4 yrs to get to the end. thankfully, i did have other investments to help me out but for such as a bond fund to go down is unheard of imo. never knew of it before and doubt i will ever see it again. lehman was the first clout. people who could, withdrew, and the investments that were left were tough to sell at that time. the liquidators sold back the better remaining investments to the encumbent managers of the fund who then saw a collective rise of near 50% over the next 12 mths. we lost out on that too. the laws imo are not good enough. jim rogers has said 'never invest in australia'. take of it what you will. there is a heard mentality of it'll be alright so go play two up. gambling is in the blood and imo it is in the blood of the brokers, finance bods and anyone else who is clever enough to get themselves a licence to sell advice to others. everyone is to be taken. that's the way i see it. this week i saw yet another debenture collapse in oz. $600 mil i believe it was. so many have lost heaps, if not all. we trust the licences given to people who have no intention of being trusted. i have been investing in uk and nz as well as oz for a very long time. hardly ever hear of such in either. sadly tho nz has been hit very hard with insurers going down past yrs. this brings me to ian. we trust the news we are given. we have to. i have said so often on hc, trust very few directors. AND I MEAN IT BIG TIME.

for me, a coffee in the bar and the daily newspaper (not one of those rags either lol), my backpack, guide book and air ticket with the measly pittance in the purse, my 71 y old lady wife backpack to the ready too lol, my puds and the strays i look after are what is important in life.

money is important to do these things i readily admit but not the want to have the biggest car, house and posh watch.

my local bar owners kept on saying to me they want to go to panama. i said, no way, too much crime and not good for the kids. yesterday i googled a few bits and saw just how much it has changed. the 'new singapore' and open to all ! incredible. residency, passport all on offer to the people who can prove they have a reasonable income or want to work. 3.5 mil people and a leader with brains. many germans, dutch, americans have jumped in so far. so perhaps there is somewhere after all to go to that has people first. crime i understand is gone. hard to believe all this but seems it is a story unfolding.

wpl NO. tis WTP watpac. unless you mistyped ?

no doubt you will win your case but is there much left in the oz kitty ? prob in some safe offshore haven waiting to be spent. hope it all goes ok and soon too.

send the kids to panama, open a restaurant and send you some soup. ted's idea. i'm off to make a cuppa.

chin up petunia.

be good,

40.