I know Warren Buffet said that in the short-term the market is a voting machine and in the long-term it is a weighing machine. I'm just wondering why management is looking for investors' votes. It all seems so unnecessary, why pour all this effort and money(!!) into getting the share price a little bit higher? The best way to raise the price is build a better business, the share price will take care of itself!
Instead Management are spending money on consultants, extra directors and their time to sell a minority holding in a company that shareholders probably don't want to sell to raise funds the company really doesn't need all in order to achieve a slightly higher share price! How long will this premium last if the business doesn't improve?
Will this really create extra value for shareholders in the long-term? I wonder where the company will be in 5 years time? I'm pretty sure I won't be a shareholder to care.
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