@long_haul Fantastic stuff. Thank you very much. I sense a lot...

@long_haul

Fantastic stuff. Thank you very much. I sense a lot of wisdom there.

People say that culture is too hard to discern. Not everyone has access to management, and in any case, even those that do, have trouble sorting out the truth from spin, etc etc.

Well, I won't say it was any notion of culture that brought me to ACR. It was the cheap share price, relative to my sense of the assets on offer (largely the intangible ones). However, it took very little time to see that ACR had, and has, accounts that are as clean as a whistle, and oh so simple. I'm not sure I've ever seen simpler or cleaner. And possibly allied to this, the prudence/caution apparent in the financials, over many years, was palpable.

I would need a lot of convincing that accounts like that, over an extended period, are not an outgrowth of culture.

On top of that, listening to the last few podcasts of the CEO Q&A sessions (www.openbriefing.com) gave me a good feeling.

How much did that gooey stuff feed into my investment decision? I'm not sure. But given how much I value culture, I know it played a substantial role.

It never ceases to amaze me the way investors/traders run around worrying about the smallest details, the smallest delay in achieving a milestone, the cups and handles, the next resistance level, the 3rd decimal point on a forecast, yet pay little attention to this sort of thing.

Thanks again. I'm liking this story more every day.