Friday, March 25, 2011


iSoft (ISF.AX) suspended its shares pending an "announcement". I just wish companies would explain something about why they are halting trading. The Guardian has the story. Apparently a partner firm looks ready to buy them out. My interest is due to our holding of Oceania Capital Partners (OCP.AX) who made a disastrous large investment in iSoft. Most of the loss of value happened very quickly last June and as OCP is trading way below NAV I didn't sell. OCP is also in a trading halt. At the current share price we are making a small profit of a few hundred dollars on our investment in OCP. At the NAV we would be making a profit of several thousand dollars. And the company is in the mode of winding up and returning capital to shareholders. With all these companies returning capital we need at some point in theory to make new investments in the private equity and hedge fund asset classes. The question is whether we can find good investments of that sort.

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