Sell Your Soul, page-51

Looking for the next overvalued plays after selling out of DMP.
@DSD- thanks for the ideas to research re sol and wor.
Sol's assets look like their pre-tax net asset value has dropped from $6B (31/7/16) to approx $4.81B (today).
In Sol's consolidated financials, total assets showed $4.299B at 31/7/16 even though their holdings in listed and unlisted investments, property, cash and loans out were $6B.
Their long term assets are recorded at the lower of cost or impaired value.
So even though their assets look like they have fallen over $1.2B this fin year their balance sheet will only show a small drop.

With sol's $4B market cap, you may still be buying below NTA even after this big fall in their asset value.

BTW- How did they manage to get 19.9% of HHL @ $1? That is some smooth wheeling and dealing.