I wonder if there is also value in a pointed campaign of emails to the directors. Here's what I'm planning to send (feel free to copy and send yourselves or recommend improvements. Does anyone have email addresses other than [email protected])
Dear TEK/TOP Directors,
I implore you all to find your moral compasses and do something (anything) that is actually in the interests of the investors (excluding Alex) of these two abysmal companies. You have allowed Alex to raid the companies' assets for his own personal gains and vanity exercises. With high performance fees and a lack of high watermark, the fee structures of these companies rewards Alex for his highly volatile investments strategy while punishing all other investors. Although I understand this to not be a crime in the technical sense, it clearly lacks basic morality and is an action that any reasonable person would struggle to sleep with. I believe there are only two reasonable paths forward for each of these companies:
1. Introducing a high watermark for performance fees. This would mean Alex would only be rewarded when he actually manages to achieve long term growth in these companies.
2. Wind up the companies and return funds to suffering investors.
I have low expectations in either of these things occurring because my understanding is that you are all Alex’s puppets (well done for that), but I welcome you to prove me wrong.
Regards,
XXXX
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I wonder if there is also value in a pointed campaign of emails...
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