Not the case study that you would welcome, page-77

I agree that zero is a big call but it’s happened before and is likely to happen again. Think ABC Learning, Babcock & Brown etc. Zero may seem improbable but possible nonetheless. Why speculate on a company like this with all its headwinds when there are so many other better opportunities out there. Let’s not forget management’s sell down and subsequent downgrade. Not a lot to like about this business atm imho.