http://www.crikey.com.au/2008/06/12/the-imploding-babcock-brown-empire/ now with extra source Sat, 11 Feb 2012 22:03:37 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.crikey.com.au/2008/06/12/the-imploding-babcock-brown-empire/#comment-23360 The Kid From Bondi Thu, 01 Jan 1970 10:00:00 +0000 #comment-23360 News Flash! Shares go down as well as up. My B&B's are today worth less than half, on paper, than I paid for them. Nobody held a gun at my head to buy them and I was well aware of the "mini me" millionaires factory they were creating. If MB was heading north of $100 then B&B was good buying at a quarter of that price, more upside potential, I thought. Then the lights came on and the music stopped. Wow what a bow wow or so it seems now. Hindsight - what a wonderful thing. Corporate governance and accountability in Australian business is just like a fairytale. It is believed only by those who want to believe it. But to compare B&B to MFS or Opes is just wrong in every aspect. If an investor in B&B or his advisor didn’t do their research, bad luck. From first hand experience I can tell you that with MFS nothing could be further from the truth. News Flash! Shares go down as well as up. My B&B’s are today worth less than half, on paper, than I paid for them. Nobody held a gun at my head to buy them and I was well aware of the “mini me” millionaires factory they were creating. If MB was heading north of $100 then B&B was good buying at a quarter of that price, more upside potential, I thought. Then the lights came on and the music stopped. Wow what a bow wow or so it seems now. Hindsight - what a wonderful thing. Corporate governance and accountability in Australian business is just like a fairytale. It is believed only by those who want to believe it. But to compare B&B to MFS or Opes is just wrong in every aspect. If an investor in B&B or his advisor didn’t do their research, bad luck. From first hand experience I can tell you that with MFS nothing could be further from the truth.

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