hisah wrote:Rollout wrote:.... If you see a hedged fund or investment management firm reporting a 40% drop believe me it is bigger than that! No manager want to report 15% drop leave alone 40%, most companies keep reserves for the bad times and would have cover the drop by releasing some of its reserves. For a company to drop 40% they have to have a major loss somewhere( trading or legal) or the strategy is not working( selling type writers in computer era). I am not a Centun investor so I have not right to ask questions.
What if the reserves couldn't cover for the losses?
The lame excuse about not flagging a profit warning is unacceptable.
And I hope they didn't hedge USDKES @107... So thats is the big question and even the bigger question is do they know where it is bleeding? Usually when you have faith that you will have great quarters in the near future you book a topside and offset it later instead of taking a hit that you cannot explain!
The second part of this is that the last time I visited Centum website and went through their portfolios I couldn't help but notice that most of their reported value and gains come from close companies, I mean companies that you might never ever see their performance and from real estate valued by CENTUM or companies paid by centum!