Questions for investment banks as Betfair falls quickly off

[Iron]

http://www.telegraph.co.uk/finance/comm ... -pace.html

[lord]

What the City thinks and what Betfair traders think unless you have a briefcase in both camps is not important certainly for Betfair Traders in the next 12 months.

"Underlying revenues rose 12.3pc in the six months to the end of October to £188.5m, while profits excluding exceptional items rose 49pc to £37.6m. However, pre-tax profits fell 18.9pc to £7.4m after the company paid out £15.7m in float-related costs.

Once you take money from the City - u have to answer to the city, but we are a different audience.

[Green Park]

Investments banks did a good job, they wanted to flog Betfair at the highest price. They couldn't care less whether it was a good investment or not, they don't make money that way. They just flog companies.