Ann: Update on Regulatory Matters, page-193

At the end of the day, it gets down to management, management and….. management.

Unfortunately and, with few exceptions, Australian public company management isn’t renowned for its smarts. It’s down there in the 4th quartile by international standards so before you slice and dice the numbers in your spreadsheets and waste your time with all the financial gymnastics and engineering to get the spreadsheet to tell you what you want to see, devote a LOT of time to researching and validating the company’s management and track record. The former without the latter is an exercise in futility and likely to cost you dearly sooner or later.