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KAR $1.18

Currency Movements v Value

  1. Black Swan

    5,634 Posts.
    Assets calculated in USD
    Dollars in USD Accounts.

    December 8 Market Cap at 674 million KAR cost Erwin and his mates 459 million USD

    Today $2.39 same calculation 241 mil SOI = $579 AUD = 453 million.

    And you still wonder why we have the rinse....wash....repeat.

    They get to drag it down in AUD purchase of shares- all the while the currency sinking just gives them more money to play within USD and the Market Cap gets lower to do the same. To ad a beautiful mix - the cash held by KAR accrues in USD interest - yes there are expenses but still - talk about the perfect arbitrage for the suitor.

    We can only hope more than one says it this way and we get close to $4

    Money's flowing into AUS equities ( admittedly not much appetite for the spec end).

    It is now apparent and totally irrelevant what you may assume any ( if any asset value) is attributable to KAR - was it one of our good friends who recently do a Reported on KAR based on 0 asset value and was still around $4 something?

    Let's just prey for the side track to complete - get to the money hole even though this well will prove commercial too.

    The money men have done a beautiful job - just applying finishing touches ( few more months of SP torture) then bye bye Hosking clan and KAR

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