Go through the LRF posts and you'll see people think management are in this for themselves and not the shareholders. As the most pertinent example, go back to the way they handled the buyout of Weiss and Carrousel-look at the deal they selectively offered those shareholders but not all shareholders. I still cannot understand how any independent shareholders voted for those proposals. Bullsh.. baffles brains I suppose. Anyhow, look at what they promised shareholders to placate them, then look at how they enacted them-e.g. introduced the 5% buyback, then dropped it, announced weekly NTA, then without explaining why, suddenly dropped it. They continually trade well below NTA-if you want RIV and AGO, you are better off investing in them directly. Having said that, the corporate play for RIV does make LRF of interest short term as they might find a pile of cash coming in.
LRF Price at posting:
98.0¢ Sentiment: ST Buy Disclosure: Held
