I thought the words were defensive/ justifying in their tone...ie like someone on the backfoot having to explain himself. ie not the tone of someone on their front foot.
MKT The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint
Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%