Probably still a bit raw for those caught in the FGE mess. But if I can make one observation;
Trading with hindsight is such an easy proposition. We need to stop hearing the 'lessons learned' preaching.
The bankruptcy call gets made numerous times when supposedly 'good' companies fall on difficult times. Billabong is a good example. Newcrest even more recently.
Those that invested in FGE expecting a capital raising, restructuring or even a white knight did so because past experience also shows that 'good' companies, with strong contracts (supposedly) do get saved.
And the capital gains from picking these can be extremely strong.
I guess I am saying that the risk was there, but so to the actual (for those lucky enough to sell) and potential rewards..
Nobody knew for certain it was a dead duck until financing (which was implied to be assured) was pulled. The actual lesson learned maybe to not trust everything you read in announcements.
My favourite line from my favourite movie is 'We are all just one trade away from humility Bud'.
Milesy
FGE Price at posting:
91.5¢ Sentiment: None Disclosure: Not Held
