No suprises here. It is basically what I expected.
Although, I would have liked clearer guidance on what they plan to do with their cash other than to, "actively pursue growth opportunities"...
The problem with this company is that it grew to big too fast. They are doing everthing that they should in respect to eliminating that which is flawed and redundant.
I am sure Reid has certainly learned some hard lessons along the way and will be a better CEO for it.
I'll still be holding this stock for the long term. I don't expect a V shaped turn around, just sustainable growth. If they can attract any new funds by the end of this year I think that is possible.
As for the slide 3 - condolences to those that were in equity markets and stocks like this one in 2008. Touch wood that EFG doesn't follow that trend.
EFG Price at posting:
59.0¢ Sentiment: LT Buy Disclosure: Held
