Well, all of the wealthy and great investors who I know personally have been misled at some point in time. Remember, disclosure rules mean that we are not privvy to what is going on really - nor do we have much influence on affecting change as we are not on the Board. I was also an early investor in Amaero and Titomic - and have also had some spectacular investments as well as poor ones. Often the sector, product and opportunity stack up and could be management that fails it, could be any number of factors. I don't get it right every time either despite 25 years in businesses. No one is always right, but it is what you do when you are wrong (remember at the time, it may not look it) that makes you a winner or loser.
What Hank has done here on the ground with Amaero is extraordinary and shows great acumen, strategy and network - now that he is in control and has clear view. Buffet makes mistakes all the time - they have a handful that "made it". Hank has integrity as he "owns it" and no one's decision in business is always the best given limited information at the time.
3DA Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
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