"............ without having any of the pertinent information needed to form their conclusions, have expressed fiercely strong opinions about what the company is doing wrong..................."
Thanks for sharing that MTH. Personally do not have any problem with that response from PH as it is 100%correct.
I watched a footy match the other day and had to chuckle at the responses of the crowd. Any time they perceived play was not in their favour they would vent their upset with strong opinions generally relating to and directed towards the perceived poor performance of the umpire. Funny thing was it was only the play that did not favor their preferred team. As the game went on the scores were close and it was obvious that the voracity of umpiring by the crowd increased in equal proportion until those instances let go or penalized against their preferred team outcomes created extreme vitriol towards the umpire. I'm quite sure no matter win lose or draw many of these ringside umpires went home assured they had a better understanding of how the game is played and rules administered than any of the players or officials who were obviously only there for the largess dished out in the upstairs members bar. The regular spectators had paid their money to "watch", to be part of the crowd but, had become very much involved.
It appears many of those spectators have also paid their money to buy some shares and feel they have the same right to challenge the umpires, management coaches and anyone else directly involved in the game. The catalyst to the frequency and volume of opinion having a direct coloration to the share price. The first casualty would have to be objectivity and the obvious cause of poor performance limited strictly to management. In the case of IMU even more certainly it is the Chair who is 100% at fault.
Can only suggest to those who feel the need to vent the loudest and fire off emails and phone calls to step back for just one moment, turn on the TV and take a look at the footy. Check out the crowd and you will note, while everyone is involved, there is always an individual or small group who have lost (or simply are incapable) all sense of objectivity. You just would not want to be sitting next to them - or be them - would you ?
As a shareholder I'm not here to defend or decry the IMU Chair, management or any of the team. I have paid my money to basically be a spectator. I cannot hope to know what goes on behind closed doors and therefore even from a story well told cannot fully determine why some decisions are made and others seemingly held in abeyance. What I can do is look back at the decisions of the past to see how they generally worked out. I can generally benchmark the progress of the business and can determine whether or not there is a reasonable flow of information compared with other like businesses. If I was really clever I could refer to some charts to determine how things may work out in the near future.
So I guess the moral of my little story is, no matter how you dress, talk and walk, if you do insist on being "that" ugly spectator in the crowd, at least wait until your glass is empty before you wave it all around and spill beer and spittle on those sitting next to you.
Finally, just a parting thought (in absolute defense of all the PH's of this world ). Who was it that initially put this play together, found the management and the funding to kick start it all ? I am not hearing a lot credit or thank yous for that. The weakest aspect of the expert detractors whole position is posturing the Chair has the only say in strategic development and makes "all" the decisions re capital formation.
IMU Price at posting:
7.8¢ Sentiment: Hold Disclosure: Held
(20min delay)