Mmmm, the acquirer of the stake was Melbourme-based Cooper Investors.
Now lets see, who would one believe to be the better endorsement of value here?
An individual who championed and sanctioned hundreds of millions of dollars of acquisitions that later needed to be written off?
Or a well-establshed, prudential and professional investment fund with a long term track record of impeccable investing that includes outperforming the broader equity market by almost 4%pa.
Put another way, $1,000 invested ten years ago by Peter Cooper and his team would be worth over $3,000 today.
$1000 invested by former TPI management over the past decade would have been worth just a few hundred dollars today if one brings all the write downs to account.
Personally, I'm DELIGHTED the former CEO has sold and someone who I greatly respect as a discerner of the true value of equity has bought.
This is a sensational endorsement of TPI's future.
TPI Price at posting:
95.5¢ Sentiment: Buy Disclosure: Held
