The fallout from Vocation Ltd's recent travails (share price down 62% in October) will ultimately lead to greater scrutiny of the industry, with government...
The fallout from Vocation Ltd's recent travails (share price down 62% in October) will ultimately lead to greater scrutiny of the industry, with government agencies now acutely aware of some of the less desirable activities. For example, I thought channelling was a 'divine art' but in the VET industry it refers to signing up students to qualifications they don't necessarily require, with majority of it funded by the government. Unfortunately, the legitimate providers in this space are likely to be dragged into this mess and might actually present some investment opportunity, although we suspect there is a lot more water to flow under the bridge. Our tendency to invest against the grain generally leads us to buy early however engaging a modicum of restraint is probably a wise course of action. Much of the market has apparently been caught up in the hype meaning that the list of marginal buyers for these stocks is potentially, to quote Monty Python's Mr Creosote, 'wafer thin'. (VIEW LINK)
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