I completely agree with your comment about managing expectations...

I completely agree with your comment about managing expectations and the earlier problems with over promising and under delivering.

I do believe however that Dirk and Nick have very different approaches to what they communicate with Dirk being more careful and less inclined to think the market needs feeding with exciting news that later proves to be misleading. That has not served us well, or reflected well on Nick.

However I also suspect that Dirk still has to learn about the subtleties of interpretation that will inevitably occur with whatever he writes. So your comment about profitability is, I believe, right on the mark. I don't read the newsletter as promising profitability in this quarter but as continuing the trend of substantial improvements in margins. I'd also expect that this quarter will continue to show skewed financials as the result of forward orders of raw materials in anticipation of orders placed but not fulfilled. I can't see how it will not.

I think there is real risk in misinterpreting, over estimating or overhyping on the part of readers until Dirk has settled in the role and we can fully distinguish his approach and also put the past behind us.

I think there are a few factors influencing institutional take up but the data has clearly indicated that notwithstanding even the cautionary notes Petra made, or the efforts of the anti nick trolls, institutions have taken up larger positions. Anyone got the latest broker data?



Parsifal