Investment thesis 1/ It is highly profitable paying good dividends (not many companies actually make money on the ASX) 2/ I actually liked Hamish. His value investment thesis resonated with me 3/ I wanted a piece of the hi management fee action (as a shareholder) - I thought they would be sticky. I underestimated the non competitive nature of the financial services industry in this country. I believed the overall market would head south, but I thought that should encourage a drift to active vs passive management. I get sick of being nickld and dimed by the big fundies and istos 4/ The leadership issues and HD issues came after I bought my main holding 5/ "Hamish dumping stock" was not as big a flag for me.. he could be doing that for any number of reasons (unrelated to his current view of the business) Anyway you asked for my reason so here they are
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