I think there was a lot of caution in last night's discussion. Not pro-PSN at all. But the bashers who were out today were definitely negative and far less reasoned in my opinion.
As I have said before, I am in this stock at an average price in the 5's (some bought in the teens, but most since the big drop). I think their numbers bear buying here and that the dividend will be reduced but probably to something in the $0.04 to $0.07 range per month, which is substantial.
I have no reason to beliee that there was illegal activity or fraud by the management (which is what the market seems to be discounting) but have entered my position recognizing the risks that there may be somehting lurking (even if I do not believe that to be the case).
So no, last night's discussion was not pro-PSN. It was simply a discussion of the numbers that we know and we would generally accept from any other mangement body. But there are people here on this board (and admittedly in the market) who believe that PSN's management is fundamentally deceiving investors. I don't think that is the case, but I go into this with the recognition that it is not impossible. That is what the market is about. It takes players on all sides. Some win and some lose. So far, I am behind. But I don't think that will be the case come 2013.