bad debts blowout in middle east, page-25

With a single shareholder owning greater than 50% of the stock , traditional fund managers are not going to take a punt on LEI until their financials deny the rumour of greater losses that the press are suggesting willl be far worse than the company and brokers are forecasting

If it is more bad news on LEI then the stock could easily fall towards $10 , or 40% in one bang in the same manner QAN and QBE have done in the last week , both QAN and QBE downgrades were not a surprise but denied by current holders , when these downgrades do come so to does te second wave of sellers and punters run for the hills

I sense while there is a lot of shorts out LEI there is also a lot of punters trying to pick the bottom and margin lending againt the stock that has a surprisingly high loan ratio