Dick Smith is the Greatest Private Equity Heist of All Time

[Petzl]

On Sat, 9 Jan 2016 19:33:04 +1100, "Rod Speed"
<rod.speed.aaa@gmail.com> wrote:

What no-one will be told as how much the tax-payer obtained.

We'll see... They were with that other private equity heist.

http://www.applianceretailer.com.au/2013/07/lqynkbiver/#.Vo9foLND4Wm

Woolworths confirmed that the "total proceeds from the sale of Dick
Smith"
were $94 million, including a $50 million payment on 28 June 2013 and
$24
million in 12 monthly installments commencing July 2013.

The owners used creative accounting to fudge a pyramid profit (scheme)
results,

There was no pyramid.

It was a revse pyramid selling down assetts claiming it was making
profit

claiming profit when it made none,

Yes.

and once enough debt was unable to be
repaid to creditors they made their move.

There were no creditors that mattered. The problem
was that no bank was going to finance their restocking
after the utterly obscene result they got.

http://bit.ly/1kUra9J
Rule one in investing in IPO's DON'T if the likes of you
and me can buy them they are not worth buying,

Even sillier than you usually manage. The first traunch
of the Telstra float was fine.

They were offered at $3.30 in 1997 and fell when listed

if any good they are sold out before one can.
Wait for them to appear on market

Only someone who didn't have a fucking clue did
that with the first traunch of the telstra float.

Suit ypurself not what I advise though.
--
Petzl

 

[Rod Speed]

Petzl <petzlx@gmail.com> wrote

Rod Speed <rod.speed.aaa@gmail.com> wrote

What no-one will be told as how much the tax-payer obtained.

We'll see... They were with that other private equity heist.

http://www.applianceretailer.com.au/2013/07/lqynkbiver/#.Vo9foLND4Wm

Woolworths confirmed that the "total proceeds from the sale of Dick
Smith"
were $94 million, including a $50 million payment on 28 June 2013
and
$24 million in 12 monthly installments commencing July 2013.

The owners used creative accounting to fudge a pyramid profit (scheme)
results,

There was no pyramid.

It was a revse pyramid selling down assetts claiming it was making profit

Selling unproductive bits isnt any pyramid at all.

claiming profit when it made none,

Yes.

and once enough debt was unable to be
repaid to creditors they made their move.

There were no creditors that mattered. The problem
was that no bank was going to finance their restocking
after the utterly obscene result they got.

http://bit.ly/1kUra9J
Rule one in investing in IPO's DON'T if the likes of you
and me can buy them they are not worth buying,

Even sillier than you usually manage.
The first traunch of the Telstra float was fine.

They were offered at $3.30 in 1997 and fell when listed

But went on to do very well for those who signed up for that IPO.

if any good they are sold out before one can.
Wait for them to appear on market

Only someone who didn't have a fucking clue did
that with the first traunch of the telstra float.

Suit ypurself not what I advise though.

I don't believe that there is any blanket rule that always works.

 

[Petzl]

On Sun, 10 Jan 2016 08:34:01 +1100, "Rod Speed"
<rod.speed.aaa@gmail.com> wrote:

Petzl <petzlx@gmail.com> wrote
Rod Speed <rod.speed.aaa@gmail.com> wrote

What no-one will be told as how much the tax-payer obtained.

We'll see... They were with that other private equity heist.

http://www.applianceretailer.com.au/2013/07/lqynkbiver/#.Vo9foLND4Wm

Woolworths confirmed that the "total proceeds from the sale of Dick
Smith"
were $94 million, including a $50 million payment on 28 June 2013
and
$24 million in 12 monthly installments commencing July 2013.

The owners used creative accounting to fudge a pyramid profit (scheme)
results,

There was no pyramid.

It was a revse pyramid selling down assetts claiming it was making profit

Selling unproductive bits isnt any pyramid at all.

claiming profit when it made none,

Yes.

and once enough debt was unable to be
repaid to creditors they made their move.

There were no creditors that mattered. The problem
was that no bank was going to finance their restocking
after the utterly obscene result they got.

http://bit.ly/1kUra9J
Rule one in investing in IPO's DON'T if the likes of you
and me can buy them they are not worth buying,

Even sillier than you usually manage.
The first traunch of the Telstra float was fine.

They were offered at $3.30 in 1997 and fell when listed

But went on to do very well for those who signed up for that IPO.

After the government aresholed "Ziggy" Switkowsky the shares started
to turn

if any good they are sold out before one can.
Wait for them to appear on market

Only someone who didn't have a fucking clue did
that with the first traunch of the telstra float.

Suit yourself not what I advise though.

I don't believe that there is any blanket rule that always works.

Seems to apply over 90% of the time.
--
Petzl

 

[Petzl]

On Sun, 10 Jan 2016 15:34:26 +1100, "Rod Speed"
<rod.speed.aaa@gmail.com> wrote:

Petzl <petzlx@gmail.com> wrote
Rod Speed <rod.speed.aaa@gmail.com> wrote
Petzl <petzlx@gmail.com> wrote
Rod Speed <rod.speed.aaa@gmail.com> wrote

What no-one will be told as how much the tax-payer obtained.

We'll see... They were with that other private equity heist.

http://www.applianceretailer.com.au/2013/07/lqynkbiver/#.Vo9foLND4Wm

Woolworths confirmed that the "total proceeds from the sale of
Dick Smith"
were $94 million, including a $50 million payment on 28 June 2013
and $24 million in 12 monthly installments commencing July 2013.

The owners used creative accounting to fudge a pyramid profit (scheme)
results,

There was no pyramid.

It was a revse pyramid selling down assetts claiming it was making
profit

Selling unproductive bits isnt any pyramid at all.

claiming profit when it made none,

Yes.

and once enough debt was unable to be
repaid to creditors they made their move.

There were no creditors that mattered. The problem
was that no bank was going to finance their restocking
after the utterly obscene result they got.

http://bit.ly/1kUra9J
Rule one in investing in IPO's DON'T if the likes of you
and me can buy them they are not worth buying,

Even sillier than you usually manage.
The first traunch of the Telstra float was fine.

They were offered at $3.30 in 1997 and fell when listed

But went on to do very well for those who signed up for that IPO.

After the government aresholed "Ziggy" Switkowsky the shares started to
turn

Nothing to do with him, and you've mangled that dates wise too.

It was (1999)
Then came Solomon Trujillo share price didn't fare much better till
David Thodey took charge

if any good they are sold out before one can.
Wait for them to appear on market

Only someone who didn't have a fucking clue did
that with the first traunch of the telstra float.

Suit yourself not what I advise though.

I don't believe that there is any blanket rule that always works.

Seems to apply over 90% of the time.

Like hell it does.

Your money your descision.
--
Petzl

 

[Rod Speed]

Petzl <petzlx@gmail.com> wrote

Rod Speed <rod.speed.aaa@gmail.com> wrote
Petzl <petzlx@gmail.com> wrote
Rod Speed <rod.speed.aaa@gmail.com> wrote
Petzl <petzlx@gmail.com> wrote
Rod Speed <rod.speed.aaa@gmail.com> wrote

What no-one will be told as how much the tax-payer obtained.

We'll see... They were with that other private equity heist.

http://www.applianceretailer.com.au/2013/07/lqynkbiver/#.Vo9foLND4Wm

Woolworths confirmed that the "total proceeds from the sale of
Dick
Smith" were $94 million, including a $50 million payment on 28
June
2013 and $24 million in 12 monthly installments commencing July
2013.

The owners used creative accounting to fudge a pyramid profit
(scheme) results,

There was no pyramid.

It was a revse pyramid selling down assetts claiming it was making
profit

Selling unproductive bits isnt any pyramid at all.

claiming profit when it made none,

Yes.

and once enough debt was unable to be
repaid to creditors they made their move.

There were no creditors that mattered. The problem
was that no bank was going to finance their restocking
after the utterly obscene result they got.

http://bit.ly/1kUra9J
Rule one in investing in IPO's DON'T if the likes of you
and me can buy them they are not worth buying,

Even sillier than you usually manage.
The first traunch of the Telstra float was fine.

They were offered at $3.30 in 1997 and fell when listed

But went on to do very well for those who signed up for that IPO.

After the government aresholed "Ziggy"
Switkowsky the shares started to turn

Nothing to do with him, and you've mangled that dates wise too.

It was (1999)

That wasn't when those who had bought them
in the first traunch started to do well with tho.

> Then came Solomon Trujillo share price didn't fare much better

They did fine for those who had bought them in the first traunch.

> till David Thodey took charge

Basically by paying an insane dividend that had to be paid
for by borrowing to fund that which made it quite attractive
for those who needed a decent dividend rate.

if any good they are sold out before one can.
Wait for them to appear on market

Only someone who didn't have a fucking clue did
that with the first traunch of the telstra float.

Suit yourself not what I advise though.

I don't believe that there is any blanket rule that always works.

Seems to apply over 90% of the time.

Like hell it does.

Your money your descision.

Indeed it is with both.

 

[Rod Speed]

Petzl <petzlx@gmail.com> wrote

Rod Speed <rod.speed.aaa@gmail.com> wrote
Petzl <petzlx@gmail.com> wrote
Rod Speed <rod.speed.aaa@gmail.com> wrote

What no-one will be told as how much the tax-payer obtained.

We'll see... They were with that other private equity heist.

http://www.applianceretailer.com.au/2013/07/lqynkbiver/#.Vo9foLND4Wm

Woolworths confirmed that the "total proceeds from the sale of
Dick Smith"
were $94 million, including a $50 million payment on 28 June 2013
and $24 million in 12 monthly installments commencing July 2013.

The owners used creative accounting to fudge a pyramid profit (scheme)
results,

There was no pyramid.

It was a revse pyramid selling down assetts claiming it was making
profit

Selling unproductive bits isnt any pyramid at all.

claiming profit when it made none,

Yes.

and once enough debt was unable to be
repaid to creditors they made their move.

There were no creditors that mattered. The problem
was that no bank was going to finance their restocking
after the utterly obscene result they got.

http://bit.ly/1kUra9J
Rule one in investing in IPO's DON'T if the likes of you
and me can buy them they are not worth buying,

Even sillier than you usually manage.
The first traunch of the Telstra float was fine.

They were offered at $3.30 in 1997 and fell when listed

But went on to do very well for those who signed up for that IPO.

After the government aresholed "Ziggy" Switkowsky the shares started to
turn

Nothing to do with him, and you've mangled that dates wise too.

if any good they are sold out before one can.
Wait for them to appear on market

Only someone who didn't have a fucking clue did
that with the first traunch of the telstra float.

Suit yourself not what I advise though.

I don't believe that there is any blanket rule that always works.

Seems to apply over 90% of the time.

Like hell it does.