Well done Waterz - 3 posts in around 5 months - all on PNC which you don't hold and have a SELL viewpoint. No, I am not from Katana...not even from WA...never had dealings with them. But if they are a large holder as you say, why are they not in the Top Twenty shareholders. Leslie Crockett (familiar name) occupies position 20 with 440,000 shares.
As to @Madtrader "highlighting me" as you say...I don't see it that way. Our views are probably closer than you think, but our views differ on how Keith John played his cards. I see his move as commercially savvy and not inflamatory. After all, he has offered to share all the correspondence. Isn't this an attempt to get a different perspective on the matter? After all that's what barristers do...interpret the written word. And to those people who are inferring that all PDL's are the same...you're forgetting one BIG matter. The people and the systems that extract the value from the ledgers! Before I invested in PNC, I spent two years tinkering with CLH trying to come to grips as to why they were at such a discount to CCP. I went to two AGM's and spoke to a number of managers. It seemed to me that their (CLH) back-end wasn't as effective as it should be. Forgetting all the accounting 'mumbo-jumbo' where a number of posters seem to be entranced, this is just a business. The key ingredients are (1) the quality and price of the ledger acquisitions and (2) the quality of the people and the systems to recover the cash from the acquisitions. That's it, pure and simple.
Having operated 75 telemarketers in one of my businesses many years ago I can tell you that the systems used and the quality of the people employed can make one hell of a difference - double the returns is piffle.
That's what attracted me to PNC...particularly when comparing it to CLH. Their systems and innovation and culture are better.
PNC Price at posting:
$2.52 Sentiment: Buy Disclosure: Held
(20min delay)
