A few funny one-liners in this one:
Just after 26minutes, after butchering Lev's name, he says:
"...then turned it into a marketing company"
Yes, they clearly spend millions on marketing. That line item for $5m on ads and marketing in the FY19 accounts shows that. No wait, it doesn't exist...
"It's run like a golf club, partnership of mates"
No comment. Just funny.
"Meritovsky doesn't get paid much"
Poor pronunciation aside, he didn't even get this right. Lev doesn't get paid at all.
He's right about inventory issues at audit and the perception it's run like a private company. These are side effects of very low overheads. If that cost them $500k p.a. to 'fix', that's almost 1cps every year. I'm happy to go without.
If they truly did homework on trusting management, they'd see a different story. On the whole, TWD and ANO shareholders are lucky to have Lev alongside them.
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