Thank you kindly for illustrating the course of this company since IPO Saragian....
.... and showing, chart-wise (genetically?) there does NOT seem to be any secret hero waiting in the wings to rescue it.
So as not to waste the research and to flesh out some more fundamentals , I’ll post the rest of the rough notes I made the other day .
Anyone seriously interested should check these out for themselves .
For me the larger point being illustrated here is that following fund managers is a logical starting point for putting together a private portfolio, but they sometimes behave like lemmings .
(Why did they buy into a company run by someone whose last venture along these lines in Japan was a total failure?)
(Why did they keep buying when the company’s star acquisition turned out - within 12 months to be worthless ?)
As an aside the same caution applies with trusting brokers;
Hartley’s and Macquarie recommending people buy RCR just before it crashed is an example . That company went into administration while it was still listed as a ‘buy’ by Hartleys!
David Coates, one of Bell Potter’s senior Resources analysts, had Breaker Resources as ‘buy’ with an initial target of $1.40 when it was trading in the $1.60 range ....They sold down and the company price soon dropped to 22c.
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Price($) | Vol. | No. |
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