Agreed. Now, apologies for the story telling format, but I think you'll like it.
As we do when things 'go wrong' in a relationship (a bit like 'this one' with BET), I did some searching, as to 'what was the thing that made things go wrong ?'. And it was clearly back on 27 May 2021. Now, don't misunderstand me. The ONE thing that purely saw BET lose 1/3 of it's market cap in a week was the bid lodged for TAH. Until then, everything seemed to be going well.
Did anything happen ? No.
Did we acquire it and then have to write off an asset later ? No.
Did we overpay ? No.
We just didn't buy it. Simple. Nothing ventured, nothing gained. And here, nothing lost. I could be wrong, but it didn't cost us millions in fees to talk to these people, did it ?
So why all the hate towards us from that point on ? I don't get it.
It's a bit like dating, in that we expressed our interest, so did a couple of others, but in the end, none of us won out. Just because you didn't "score" one night, that doesn't make you "less attractive" overall. Live to fight another day.
We lost nothing. If TAH had since been a runaway success by itself or with someone else, no one would have batted an eyelid.
But since then, it seems that despite all of the positive news, Mr. Market is still not happy, no matter how good we are. Remember "When I do well, no one remembers. When I do badly, no one forgets" ?
I think it's high time to look at what this company really is. So far, every quarterly report I'm reading has always seen increased numbers on everything. Every announcement has always been positive (unlike some). There's never been any shocks, e.g. "Licence Refused", "accused of anti-competitive behaviour by Regulator" or such like. If I ever did see anything like that, then I'd seriously reconsider, but until then, I'm sticking.
I'm just as underwater with this as everyone else. Down 40% overall and like Inspector Todd in Beverley Hills Cop 2, asking "where's the bad guys at the end of this rainbow ?". But if I had more money, I would tip it in, because I believe in the company. Personal cashflow is my biggest problem.
I believe that when management come on board anywhere, they do the same as whatever they used to do at other companies. Hence, this will grow and I honestly believe that there will be a merger or a takeover lodged a few years down the line, when we get profitable.
I'm going to call it now, in that end of this year, we'll see positive EPS and then very rapidly after that it will just get even better. But we need to have patience; if everyone knew the story and thought the same as me / us, then we'd be complaining that it was too expensive !
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