London Pacific Bargain of the year

The LPG financial year has now ended and thanks to the disclosure of the portfolio, it's quite easy to calculate likely earnings. Total realised and unrealised gains for the first 9 months were $390M. 4th quarter portfolio losses from the Oct 31st holdings are $365M, which I believe to be accurate to within the range $340-375M. Losses from core activities should be in the region of $20M. That puts earnings before tax in the region of -5M to 30M. Could be slightly worse if they've written off any of the private portfolio equity this quarter, which is always a possibility. Could be better if a small scale myofficeonline agreement has been signed but I'd be surprised if we fall outside this range. Not sure how the tax situation will affect this since some of the portfolio is tax protected, some isn't.