Ann: Race In-person Investor Briefing Invitation Perth, page-46

I dunno man I want Davisite to remind us, provided it contains both elements of the story. If I were a new investor, no matter how good the fundamentals seem to be, people are easily spooked and wary of 'unknown unknowns'.

RAC's story/valuation seems 'too good to be true'. So an average new investor starts from a place of wariness.

RAC's share price is floating around a third of a billion MC and has done a while. That probably reinforces the feeling that other investors know something about this seemingly bulletproof story that they do not. Any interest (buying) is currently being met by disinterest (selling). To a new investor that says somebody disagrees with the story and so my caution would be increased.

Davisite explains it is selling a former major shareholder. On its own, this is perhaps even more concerning. But as he and others have also pointed out, this person is likely selling as their price target has been achieved, and this decision may be less about issues with RACE and more balancing of portfolio weightings. Portfolio risk management is a perfectly cogent reason to sell, and may lessen any fears that there is something lurking in the background that is the reason RAC is 'too good to be true'. So I would rather Davisite reminds us of this - as long as the reminder contains both parts of the story:

1. Major shareholder selling
2. Not because Bisantrene is actually a promising homeopathy solution poised to push wolfsbane off the shelves, or somesuch.