thanks; You are probably right. 30% may be too extreme. But think for a moment who invested in MIS. They are the savvy investors looking for an up-front tax deduction, some asset diverisfication and the hope that one day in the future they might get some revenue from trees or almonds. There was no due diligence about the investment.
The ones that actually borrowed for MIS, probably also borrowed for investments in Babcock and ALLCO. So whilst 30% is way too high perhaps 3.7% is too low.
TIM Price at posting:
17.5¢ Sentiment: LT Buy Disclosure: Held
