pengana capital - m2 unrealised potential, page-4

I'm with you smalldiamond and believe the interim report is likely to be a good one. The NAB investment group including Pengana Capital mentioned in the PDF document that you gave a link to bought 1,148,835 shares paying $1.63 to $1.65 while small parcel holders are still selling as if M2 was about to announce a disappointing report. Common sense tells me that the NAB group are more likely to be in the know and that the small parcel holders are small investors with liquidity problems that need the money. One guy was so desperate to sell he had a sell order this morning before trading began of 10,000 shares at $1.28 whereas the last sale price was at around $1.42! Had I been able to get them at that price I'd have snapped them up! Also interesting is trading at the end of the day when multiple trades of only 1 or 2 shares change hands perhaps to keep the price low and spook more small parcel holders to sell at what could turn out to be bargain prices. A good report with a better than expected interim dividend should see a rise in the price and a quick capital gain for those now buying in and show that the NAB group of investors knew what they were doing whereas a worse than expected report will vindicate the small parcel holders now selling like M2 was tainted. My money is on the NAB group buying in a few weeks before the interim report knowing what they were doing but the uncertainty and price instability is likely to continue until the interim report settles things.