There is no cooling off period....they have cash and cash calls are a clear and present danger.
The current dilemma FAR faces has been due to management being unfocused, even lacking in understanding of the urgency of the matter. The market downturn at the end of 2018 was a shot across the bows of all markets. The FED pumping 100s of billions of dollars into the overnight repo market in September last year was FULL confirmation......Get your financial house in order everyone!
The only stock I retained was FAR. Everything else was sold and converted to short term government bonds and vaulted PM. The only reason I held FAR was because I believed they had the finance and I also see oil as being a great hedge against the upcoming inflationary environment combined with a rapidly depreciating USD.....probably around 2023....
FAR management appear to have been oblivious to the real world and were busily sending out little flyers to the market advising shareholders that they had it in the bag. AND that the newly appointed finance guru was fully up to speed with market conditions and FAR had full faith in this person to bring home the bacon in a timely fashion.....so much so that he received a bonus for his exemplary work.
Mayochem how can you possibly cut any slack for this rotten behavior....it simply has not and will never be just bad luck. PE was the albatross and this crew will drive any remaining value on this ship into the depths of the ocean. I dont see a combined market operation involving willing cornerstones and this mob. Come on.
FAR Price at posting:
1.2¢ Sentiment: None Disclosure: Held
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