morning all,
Parsifal and my thoughts are with Nick and family this morning.
hi toxxic,
thanks for the couple of replies
Firstly -
"Having re-read your post, I'm assuming the main benefit to moving to the US boards is the assumption liquidity is going to be better, and therefore those like yourself with very large holdings will have a better time liquidating your holding down the track when that time comes (here's to AJX at >$10!)."
I guess that is so on a personal level - and, not dealing with a market maker here pricing the stock once a day - or something like that. What I meant to say though in my post about speaking with Nick early on the listing and migration was that --------- I got the 'impression' that it was thought that it would be good for the performance of the SP if larger holders migrated. Now, he didn't say that, nor did he push the point at all - but, it seemed that he was leaning that way.
As to going to the US for AJX -- hmmm, after researching for Purrs and listening to some seasoned players there ---- I am now of the opinion that I would be more than happy for AJX to stay here.
I am not saying I would be against the move - but, I would only be for the move is Nick was involved heavily and watching like a hawk - in other words, I would want him up to speed and on the game.
Even then - it is clear that it can be a double edged sword. I look at our raising that could have gone better and I look at the dismal performance of most poor sods who went last year.
In good times of course - with the right conditions and right company - wow. But, that said - for AJX - I am an investor and in for the long haul - so, if I have picked it right - then it is only a matter of time before it reaches my tranche targets anyway - and, there is every possibility now that my personal strategy for AJX will change - because I believe that the possibility of the size, and timing of a dividend stream is changing. I have set nothing in concrete there - always, an investment should be flexible.
AJX as been good to me timing wise - great because it's Purrs first flier with blue sky potential (none of the others had open ended potentials) - but, as much --- it is the setup ----- an Aussie company on the ASX, but is based in the USA for business with business and with a highly experienced and open CEO who has passed on his openness to his team.
Now, taking Purrs to the US - well, lets just say that I have learnt boatloads already. And, I am not arrogant enough to think that because we have development of the system to a high level now - that I will be able to flick the switch and it will just be like working Australia - I must be careful to not get too cocky too fast.
I have to say, that also living with Parsifal is a lesson in itself in the difference in cultures - before meeting her, I would have thought there was very little difference between an Aussie and a Kiwi ----- how wrong I was.
So - that just reinforces the differences between American culture and Aussie culture - both in business and personal way of life.
So, for AJX'ers and the like - it is vital to realise that there are differences a mile wide - not bad, not good, just different.
It came rushing home to me/us the other day on the phone with Dirk - lovely guy, smart guy (better than we thought beforehand) and across the business - certainly the operational side, and the distinct impression you can level with him and trust him -- but, there is no getting away from it ----- you can 'feel' the difference between the two cultures. It is difficult to put a finger on it - but, it is almost palpable. I have to say that I take my hat off to any Aussie who has made it in the States and also to any Yank who has made it in Australia.
For my system - I have no idea what the difference in business culture will mean - yet. But, we have always sensed that there will be more opportunity there than here - I don't know if people remember, but the system was designed to 'track the shonkies' - and, that it does, very successfully. But, then we found that hidden in the shonks were diamonds - one of which was AJX - so, I decided to give the shonks a miss (even though there is good profit there) - and concentrate on the AJX's of the world - because if you had a choice of backing goodies or baddies - why would you bet on the baddies when even though you got less goodies - when you get em - you get em big time and with less - shall we call it - time risk. What I mean by time risk is that you never know which game in a small handful of games a baddie is playing - but, you do know one thing - that sooner or later - they will run for the door with the money - so, far better to bet on the white hats. Must admit though - when you don't get a target for over a year - some of the shonkies look awful good for a quick return - especially when Parsifal is spending in the garden at a rate that has to be seen to be believed.
Now - one more question for surly please
with IB --------- you didn't mention how the Fx was done - can you expand on that please and I assume that the US currency/conversion is done at a particular price on the day of buy or sell-
if that is so ------- were the prices that the currencies were bought and sold at ----- fine or on the heavy side.
tia for the latter.
and, have a great day everyone.
Pinto
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