Ann: FY2021 Results Conference, page-8

Five or six companies that I hold will report tomorrow.

Of these, I'm moderately optimistic about BGA but as above, cautious about how long integrating manufacturing (and distribution/warehouses) takes. Fools never differ.

As with REH today - great company whose issue at A$7.60 has almost tripled in 14 months even with today's 10.8 per cent fall - 'Mr Market' turns surly very quickly: despite good strides overseas, 'he' wasn't satisfied (although that entity was on a stratospheric PE ratio). 'He' can be like Oliver Twist.

Do instos and retail investors understand that manufacturing isn't like 'the cloud'? Unrealistic to expect instant amazing results, compounded by how BGA must negotiate with dastardly Aldi/WOW/COL/Costco/MTS' IGAs and so on.

Nonetheless, the amount of free publicity the company has enjoyed in mainstream print (and hence digital) media has been beyond my expectations, so slowly, it's getting the message across that quite a few competitors may have operations in Oz but they're majority, or exclusively, owned by foreigners. I assume the level of foreign ownership of BGA is well below 50 per cent but I lack the skill to work it out as many may hide behind nominee accounts.