Thursday, August 30, 2007

4 Pegasus ARC directors quit today

I noticed the Economic Times picked up a stunning development at Pegasus ARC today. I have been promoting this stock for months now but now it appears to be unraveling due to these four fools. You see Pegasus ARC finds investors who will fund the purchase of bad loans from lenders. I can see the headlines now, "Is Pegasus ARC the Start of the Next Sub-Prime Disaster for India?"

The folks down at the Reserve Bank of India (RBI) may yet regret that Pegasus was the first private asset reconstruction company to be officially licensed. Good thing the stock is not traded or I'd be taking a pounding. I thought for sure we'd take this company public.

I may have to get out while the getting out is good…
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