Tuesday, April 30, 2013

Ruminations re Hotchin


I'm going to to be reducing my levels of shareholding simply because I have to - I don't have an income, well if you call $40,000 odd an income - I may be buying a fruit and vegetable business tomorrow so wish me the best.

But I must share with you the dismay I felt at hearing the news that the Hanover boys and girls will not be getting more than a slap on the hand with a wet bus ticket, this after 3 and a bit years of investigation and more than a handful of column inches written about it.

I don't even have a passing interest - apart  from the sheer awfulness of the rip off itself - because it appears that nobody else does either. These people are going to just be assigned to the scrap heap never to be heard of again because some them have died and allot of them will die soon. Some of them we will hear from again during the next financial shenanigans.

Perhaps this is the best, thinking back, allot of people would have got back a minimum of 10% back - like my friend - and would have to write the rest off to experience.

I don't have much faith that someone in the future who knew what was going on was dodgy - they cant prove THAT - then Hotchin et all will face charges. Perhaps he is paying for silence all-round, he certainly got silence first time round. 

One can only hope that a number of civil actions, now before the courts, will have the possibility of success because the State has played its hand and failed.

I may write about this again...if I can be bothered.








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The Intelligent Investor: The Definitive Book on Value Investing. A    Book of Practical Counsel (Revised Edition)
The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham
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