I cleared my throat.

“ ‘One: All the evidence points to Lowen having been the man who forced the safe.

“ ‘Two: He had a grudge against Davenheim.

“ ‘Three: He lied in his first statement that he had never left the study.

“ ‘Four: If you accept Billy Kellett’s story as true, Lowen is unmistakably implicated.’ ”

I paused. “Well?” I asked, for I felt that I had put my finger on all the vital facts.

Poirot looked at me pityingly, shaking his head very gently. “ Mon pauvre ami! But it is that you have not the gift! The important detail, you appreciate him never! Also, your reasoning is false.”

“How?”