love Your Work Conference, page-45

JJ2009 - I wouldn’t pay too much attention to an order book post market. If a share finishes flat in day, there weren’t twice as many sellers as buyers.

Share Price / Sell Now comments - If shares were at 40 or 50c and you were seeing this frustration directed at founders and C-Suite execs, then selling now would be a no brainer. But unfortunately none of this is new news, the market has distrusted and discounted Karl et al for a while now, and that, combined with non-exponential growth, is why LVT is trading at such low multiples to its comps/peers.

Avinvest has shown it clearly via charts and ValueSearch said it succinctly “there is a decent underlying business here”.

I’m frustrated by the actions of the founders, but realistically - all the business needs to show is a decent increase in ARR growth and the market will reprice accordingly. If down the track Karl rebuilds lost credibility via actions and performance, then it will re-rate further again. The former can come far more quickly than the latter though.