Ann: RXP Earnings Update, page-32

It was a sizable holding and I have most likely sold most at the lowest point. It's probably been one of the most frustrating stocks I have ever been in. Have been a loyal shareholder but today's shocking downgrade tested my patience. If the stock ever looked like going up the vendors would dump stock ( they look like the smart one's after today ) . AMP tipped in $20M at 80 cents and have more than halved their investment. There's no trust in management anymore after the very upbeat AGM and where there's no trust it's "show me the money" time now for Ross - that translate's into " show us your results and we'll show you our money ". It's was a truly shocking, unexpected update - $2.5M EBIT on $35M revenue - so many staff with nothing to do, guess that's the price you pay for being ahead of the curve. But that's all going to change suddenly in the four months of trading ( delete Jan) as all the "contracted" deferred contracts of course will come through all at once on say the 1st of Feb as the economy will be powering all then , right ? Best stay away and if your feel the desire to re - enter, buy on the result's annoucements late August.