100 to 500 in 3 yrs not a bad effort for a Crackpot! lol
I don't think your a crackpot though as your quite sensible most of the time. SHJ was a goer around 50c, i'm sure I made a couple posts on it at the time, however I steer clear of such setups, lots of legals and fine print to consider and to keep up to date with and I don't have that knowledge but I do know when they are stuffed and if they pass points of no return.
I can't go along with this Batman fella though. I haven't read what he said or if I have only snippets if they've appeared on here but if Batman valued QPP at 0, he got it wrong. I'm not sure what or if Batman said anything about RT but will say I don't have much to say about him although he appears a little slippery, theres always a chance his day will come or he attracts some Karma somehow. Generally and philliosically (however you spell it) though, the good die young, and nice, "fair", and honest people normally finish last.
Batman got the 0 wrong for a couple of reasons, WTG is still hanging around one quid, plus you have to add in the first part of the special divi distribution which was sponsored by some Hill billy's from Oz. In time or earlier if AC wake up, you'll also have to add the second part of the special divi distribution to Batmans 0, the poor old WTG holders are still waiting on final payment and would have to be starving by now, probably surviving on McVities and Tea these days I guess. Might just be easier to add WTG's mkt Cap and the PSD sale price, just in case Dr.Who is getting confused. WTG got rid of RT and appointed PWC wisely because being thorough and applying benefit of doubt that RT may have been slippery it would have been a responsible action to appoint PWC just incase there was fraud or something. As it turned out we didn't see much fraud, just some misunderstood, miscalculated WIP valuations for NIHL because of lack of historical processing, (as I understand it), not only that though, QPP or more rightly the PSD wasn't just NHIL. Further more WTG were blessed when some mathematically challenged Aussies with over a billion dollars in their pocket knocking on the door which was after RT, ( Its like a Kerry Packer/Alan Bond blessing when Kerry cheekily said you only get one Alan Bond in your life) wanting to do their own specialised bottom up DD and would you believe it if you hadn't seen it
, they even chose to ignore what PWC were preliminary saying along with others I guess too, and also chose not to wait for the final reports and decided to bet the whole company on some figures their own Lawyers drew up! They really must have thought they were a growing company and believed in their WIP accounting methods @ SGH or does ignoring professional number crunchers like PWC, Gotham research, media and other knock abouts and relying on their own in-house metrics mean they were using Japanese walls? I'm not sure its all too complicated for me, I guess things may become clearer if we hear anything from Pitchers Partners perhaps as theres a CA there somewhere.
Surely it would make more sense to look for fraud in the southern hemisphere?
Anyways even though Batman got the valuation of 0 wrong they were still right to short it and am sure they made a killing, probably had 2 bites of the cherry with SGH aswell but i'm not sure just assuming
Best Wishes
