Sorry Rock, kids wanted my phone mid message and they must of hit send. Did not get to finish my response to your message. I agree with you about what I post next on the A2M forum when they see my status is Not Held and the fuel it would give to the recent Fwits who have ruined the forum for all. I dont give a rats what they would have to say to me as I have zero respect for the likes of them but I am concerned that they would use my exit to rub it in to other holders who are in pain.
You would of seen how the resentment building up in me of management cutting and running, Geoff selling down each and every one of his remaining 2.5m A2M shares on his departure after already banking $50m in previous sales. Peter N conveniently selling every share that was not in escrow and now leaving for unspecified reasons. This way he does not have to buy back in, the fact they sold every share that they were gifted did not sit well with me that I would left holding more than management bar one and I am the one who paid for them with decades of hard work and savings.
Situations change and everyone situation is different depending of their stage in life. Another company that now is our major investment has a founder and CEO who not only has billions of his own money already invested he continues to add $100,s of millions every year and since its inception has not sold a single share. They say the smart money follows the flow of the big money and I came to realization why am I riding A2M down when the previous senior management have exited the building. When you see the CEO of FMG doing the complete opposite and other senior BOD's continuing to add I decided to rotate my investment just like I did when I sold out of Telstra and all of our bank stocks to rotate into A2M in 2015.
Like @h00ts says until we get a confirmation of turnaround I will remain on the sidelines and I still believe David B can work his magic like he did at Bonds. The question is can he make any meaningful difference without the students and Chinese tourists return to pre covid levels. By all accounts some are saying we aren't going to get back to previous travel numbers until 2025.
Who knows if the bottom is in but I find it hard to see a true reason for a turnaround other than the SP is just too oversold at this point in time. Last time I sold everything and bet it all on A2M I waited until I saw what I believed that the company had turned the corner and was going to make a big success of itself. Just Like the CEO and BOD I was gobsmacked at the speed and magnitude of that success.
Their plight at the moment was covid related and the previous management have been found wanting in dealing with its consequences hence the arrival of David B with a track record of getting companies out of a rut and returning them to big profitability. I could of easily sat on the sidelines until such times but the allure of FMG's current dividends of around 15% for 6mths if you include franking and their SP undervalued it was I call I made in earlier this week to exit my final holding. I am pretty confidant of a recovery but I am realistic that next August report is not likely to show anything thats going to put a fire under the share price or return confidence to the market in its recovery. I may be wrong but in the mean time I did what I thought is best for me and my family and if and when they turn the corner I will be back on their share registry. I have seen how unwelcome others like Avadgrado have been when commenting as a non holder and dont want to be that guy that looks like a downramper on any comment as a ex holder.
