Ann: Net Tangible Asset Backing, page-4

For whom the bell TOLLS ? who saw that 'over the top' offer coming ?


Don't agree. And I don't like the dissonance in the reporting. Last month's report contained the whinge was about being short Toll. Apparently that was a stupid deal whereas the short was clever. This month's is somewhat smug about benefiting from the PanAust bids etc. I don't like that. Take the credit if you wish when things go your way - but don't cry to mummy and blame irrational markets and stupid bidders when they don't. You can't have it both ways.

To me it speaks of fragile management with a glass jaw. And the sentiment and state of mind of the manager means a lot when you're backing them and them alone. I'm out. I think the magic is gone. And it co-incided with the up-sizing of the fund to increase the manager's remuneration did it not? How has a bigger cheque to management improved shareholder returns? They have been rubbish e