CNP 0.00% 4.0¢ cnpr group

why i have sold cnp

  1. 3,292 Posts.
    Today I disposed of my large CNP holding on the basis the half yearly report which should be released next Thursday will mostly contain writedowns may be in the order of $200m.relating to DPF & DPFI (refer Swap Post). All new CEO's like to clean the slate & start afresh. Although I believe CNP operating side of the business will be as expected apart from some extra financing costs I believe the local press will have a field day reporting these substantial writedowns probably next Friday & this will drive out all traders & only leave the long term value buyers holding. Although the value of the business will remain much the same the traders will abandon ship big time & so drive the price down.
    Given my belief there is no point holding for half yearly report, will review strategy after half yearly report.
    No investment advice given please research with extreme care.
    Regards
    Buffett
 
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