I suspect MFG are closer to AMP at $4.00.......Early days in...

I suspect MFG are closer to AMP at $4.00.......Early days in their troubles I suspect.

Part of their problem was when they had a good run, rather than stay modest and humble, Douglas came across as a tad conceited.

Secondly, they did that cap raise when their price was at nosebleed valuations. Sure, good for Douglas. But it decimated investors in the process and made the brokers of said investors look like duds (which one could argue they were).

So in this business, once you combine arrogance with poor performance and sprinkle on a dash of smugness, you get pissed off investors, shareholders and embarrassed staff. Then you lose any good faith. And once you lose good faith, it's a hard slog turning things around.