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Thanks Devon - comments noted and appreciated. I had not realised it was coming to court in July - that is fast.
I am clutching at straws on this unfortunately.
That's no problem Pearls.
My exposure to the debt is a tiny percentage of my overall portfolio, probably less than it's daily volatiltiy in normal markets. Much less than 1%.
So, for me it's been an interesting learning excersise of shorting the equity and then reinvesting in the debt.
It's never pleasant loosing money, but the big lesson is not trying to win it back by taking on more risk. It never works. I hope that isn't your strategy. You end up getting into really sticky ground.
I suspect the court case, if there is one, will be quick. I don't think you'll get the outcome you dersire, but good luck anyway.
As I say, I'm a highly diversified long term investor, either way it's not going to make me or break me.
Hope it works out for you.
So the court action some posters said would not materialise is on and same posters have since been prejudging the outcome. Saw the recent debt figures from Ireland look woeful. Surprised the remaining board members are not out on their ears by now. Hard to believe anybody could have done a worse job than they did and not too much of a stretch of the imagination to think MA could have done so much better.
What's with all the playground stuff on the bb. Why do all these trading billionaires always appear on the scene too late with their views and their bragging - obviously not away somewhere nice soaking up the sun and enjoying life lol.
Excellent point. None of them were here warning of the dangers until this year... I would have more respect for a poster would starts warning us of red flags long before anyone else can see them. We have to remember the Annual Report was on the going corcern (over twelve months) basis and the debt apparently doubled within weeks. Yes, of course shareholders had more than enough time to bail out and those who did not need to learn lessons but the BoD really should have ALL been replaced by the new owners otherwise the future of the company is going to be very short term
Excellent point. None of them were here warning of the dangers until this year... I would have more respect for a poster would starts warning us of red flags long before anyone else can see them. We have to remember the Annual Report was on the going corcern (over twelve months) basis and the debt apparently doubled within weeks. Yes, of course shareholders had more than enough time to bail out and those who did not need to learn lessons but the BoD really should have ALL been replaced by the new owners otherwise the future of the company is going to be very short term
Wrong KNIGELK. Not only was I posting last year telling troubles from their full year results with fundamental analysis support, I told you early this year that DEB would go bankrupt with a high chance in the first quarter, and if not then, definitely in 2019. You and others scoffed.
Just keeping you honest.
Let's hope the court action goes well.
I hope you are not expecting a medal upside mop for acknowledging when you did like everybody else that debs had become a risky share. You would only be worthy of special plaudits had you arrived with your warnings here 3 to 5 years ago or say predicted that ig shares could dip around 50% in value in the past year. It is a useless piece of info at the moment but some brokers are mentioning possible distribution to shareholders at some future date just to be totally honest.
Upside - fair enough, although I would still argue you started posting late in the day when it was clear(ish) that the company was in big trouble.. indeed Sain@vision was also here from August (est) onwards mentioning a CVA would happen - I should have been more precise - I was talking about 3-5 new posters who are all obvious shorters - who all post within minutes of one another - and probably are all from the same hedge fund (this is an obvious assumption)... my point was simple -- it's easy to come on a thread when a company is in trouble and blag the "I am right/know it all" position.. it's harder to try to defend the bull position - in this case it wasn't worth defending in hindsight!! (occasionally it is).. so apologies about not being 100% accurate in my earlier post
BTW I didn't realised I "scoffed".. lets be honest - it didn't look that likely back in Dec/January that the shares would be delisted.. I thought worse case D4E and massive dilution and/or a CVA.. I was wrong. Few could have predicted the snitch up of the lenders to get rid of Mike Ashley (by not considering his various offers) or the debt to double (!) in a matter of weeks (withdrawal of credit facilities being a factor)... in one way you are not yet right - the company continues to trade....