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in for 4k MBL ords this morning between $76.80 and $77.50. written $80 calls on them for august and september at $2.16 and $3.10. Chart says it could go to as low as, $74.50ish, but i can't take the risk that it doesn't get there.
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In reply to: Jay on Wednesday 01/08/07 03:07pm

Now trading sub $74 - amazing what panic will do to the share price of a great company. They have no direct exposure to sub prime, are trading on PE multiple of around 13.4x current year earnings which is a discount to the rest of the market. The statement made at the AGM confirmed they had a record first quarter with strong prospects for 1H08. And the latest funds statement showed continued strong growth in its funds under management.

 

 

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They didn't announce it to the market via the ASX but it has widely reported in the press. see below for an example

 

 

SYDNEY (Dow Jones)--Macquarie Bank (MLB.AU) said Wednesday it has no direct exposure to its two high-yield investment funds that have been adversely impacted by price volatility

in the U.S. credit market.

Macquarie had said earlier that two of its funds that were marketed to smaller

investors could lose a quarter of their value, or more than A$300 million, according to a

report on The Australian newspaper website.

A spokeswoman for Australian Bank told Dow Jones Newswires that the bank has no direct

exposure to Fortress Funds.

 

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In reply to: snakecatcher on Wednesday 01/08/07 03:28pm

do a search for MFN announcements or news and you will find the announcement.

 

bought 1000 MBLIOK at $19.30 just then, to top up the ords.

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In reply to: snakecatcher on Wednesday 01/08/07 03:48pm

Sheiza - last time i looked at MBL i think it was racing Rio to a dollar and buy recommendations from the tv hot shots. Down almost 25% from the top. Got to be a bottom somewhere. Wonder if their execs are considering BMW's this year rather than the mazerati.

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