Ann: Video update from Chief Investment Officer and Chairman, page-17

what i learned...

nobody ever said he was going through a nasty divorce. thats a straw man he built to take down. but he is not being completely open about his personal situation. what happened st tropez?

he did not provide any additional information regarding bretts departure and st james. press talking about board didnt like his management style. there are non disclosures in place to keep things hush.

this nonsense about the team being galvanised. i dont think he even listens to his analysts. why would they stick by him now. people may start to leave. hence the internal emails trying to quell the anxiety of staff. only takes 1 person to leave to start the exit of staff.

he has not learned to stop punting on macro calls after the china/virus underperformance. still speculating inflation , nuclear black swans etc.

having small % individual client exposure does not make it diversified. they are not independant. when one client leaves correlation goes to 1, and more leave.

canary in coalmine is the MGF LIC. discount to NTA is huge despite the buyback and tells you retail investors want out bigtime. the december flows will be a shocker.

he needed to do this video as its now a confidence game. advertisement 100%.

remeber the sentiment at the AGM and what has followed. only fools drink the koolaid again.