Yup, I earn roughly the same as NC and have done exactly the same thing over the last year. I look around, as I'm sure he does, and ask "where should I put my super?" I come to the same conclusion most times. In my super fund I've bought at 20c - $1.05, basically whenever I have funds and see weakness. Main difference is I don't have to tell the market. For me it's really a challenge to see how much of a holding I can build, whilst also being sensible about having other asset classes in my super. I reckon NC is probably thinking similar thoughts. This is a benign announcement IMO; it doesn't say "I spent $9k as a token gesture to make shareholders think XYZ", it says "when I have spare funds I'll keep on buying (even though I have millions)".
I actually think Nick has been sending smoke signals like crazy over the last few months and this is possibly another. The trolls will attack me no doubt, but here's my theory:
- NC takes phone calls from HC posters and is happy to share. Why?
- He allows HC'ites to have him quoted from phone calls and emails. Why?
- He sends email updates to retail holders. Why?
- He provides updates like no other CEO does and now has Dirk doing the same. Why?
This is not always the case for ASX listed CEOs. Most are oriented to "sophisticated" investors and institutions. That is where the capital and glory lies. Line their pockets and his/her own through them having more information than mums and dads and reap the social cache.
My theory, and this is totally my own, is that he wants to create a legacy for his family, but also for retail investors. Why else would he do all those things above? Any other conclusion doesn't make sense to me. I don't mean he's trying to be Mother Teresa, but I think there's a part of him that wants the little guy to win (it's in most of us is it not?)
Nick is not a stupid person; my guess is that this is another of his smoke signals. Another was this mornings email from Dirk that said "..full scale testing will conclude within the next 15 days. Upon successful completion we will announce the details of the secured contract and the numbers behind the award". My guess (and hope, actually) is that this customer is Alcantara. They are probably the most innovative and progressive fabric/materials manufacturer in the world. They are also very committed to being environmentally friendly and carbon neutral. If I am correct, that would be an epic announcement. If I am wrong, I'd be amazed if they're not one of the customers in the pipeline. Either way, Europe is now coming very much online in addition to the US-based activity.
Anyway, I feel like I've written a Pinto-esque post; have had a lot of things I have been meaning to post...have a great weekend everyone.
AJX Price at posting:
87.5¢ Sentiment: Buy Disclosure: Held
