The more I look into the financials, the more doubts I am starting to have.
Take the 2006 results. Accounting profit $80 million But, Cash earnings loss of ($13) million.
I cant help thinking that the whole show is contingent on so-called investors paying inflated prices for assets for the sole reason of getting a tax deduction, and as long as there is new money coming into these MIS the whole show can operate as a ponzi scheme.
What if the government rules against the tax deduction at some stage ? How can anyone tell how much these assets are worth when there is no market for them ?
hmm.....
TIM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
