Billabong: reflections on a wipeout

Management had a plan and we had a Spec Buy recommendation. Neither have worked out. Jason Prowd explains why we’re moving on and what we can learn.

Before getting into the gory details of Billabong International’s downfall – the share price has fallen 80% since Sun rises on Billabong wipeout from 09 Jul 2012 (Speculative Buy – $1.09) – two little bits of colour that, with hindsight, have taken on a little more significance.


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