So i concede my previous thoughts were incorrect! The messages that the market were giving me should have been listened to. A valuable lesson. The cash flow issues that WDR have recently faced have obviously been very problematic and a CR (after telling investors no more equity would be raised) looks terrible. However, the rights issue is underwritten at 50 cents by a number of sophisticated investors. Cash flows should start improving and the stock will run once they start eating away at the debt balance. No matter what your net worth, a $15million investment in a company is nothing to be sneezed at. Bruce and co must be confident that the worst is behind us. Plenty of unfortunate events have occurred but a lot can now go right. I'm going to participate and I got some more at 49 cents yesterday. If there is a large line of people who have already indicated they are willing to underwrite the rights issue, anything below 50 cents has to be below fair value. Hoping i can get it right this time. Good luck to everyone, hoping anyone who has sold out can find a great investment. ALL IMO DYOR
WDR Price at posting:
48.0¢ Sentiment: LT Buy Disclosure: Held
