tax loss selling? or frustration?, page-15

Ironmonkey

You are right in principle but this is what hurt in the early part of the year. The equity fund draw downs and the pattern is the same here. The difference is that they got these shares for nil so it doesn;t matter to them what they get for them once they get the true value of their lawyers fees repaid via on market selling. At least before they are issued at certain price so it was likely they were not going to go down below that value. There is no base here.