I haven't felt very comfortable this week, with the fact that Allco Finance Group (AFG) - one company in my investment portfolio - has been put into trading halt and subsequently suspension from official trading.
These events has been going for a week, and seems even longer as there are a lot of negative speculations and anticipations of what's coming. The Australian Financial Review has been having a field days, with many negative AFG related articles. Those who said how clever and genius the AFG directors are, now really put them down, with the headlines such as : AFG Dead, over and out!!
I bought AFG at $2.80 per share. The share price fell from its high at around $13 to as low as $1.70 (mostly during the subprime crisis) , so I thought it should be close to the bottom. But maybe I thought wrong.
The company has delayed their half yearly report, and it will due tommorrow. I suppose we will see what is going to happen tommorrow. There are some new rumours in the news today and did not seems to be all doom and gloom.
Over and out!
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