NTG,
In case you haven't read my other posts: I used to work for some top professional investors in the Asia-Pacific region. Market dislocation do occur, and they were hurt badly along with the investors. Are they incompetent? I don't think so, they are still regarded the best in the investment community. And if you have read some investment books, you should know many great investors in the world at one time lost their shirts as well.
Don't get me wrong. I feel hurt when I lose money too. I am not an advocate for the current board (the Craig White board) - just I don't see evidence that they are incompetent.
Market dislocation do occur. When it occur, the impact is huge. If we knew a few months earlier that the market can turn in such magnitude, we would all had sold and hold cash now. A lot of people applauded then board's decision not to sell stella back then. Let's be fair.
Isn't Adam and King's disappearence a good thing for us? They may have made great mistake by mis-judging the market prior to Jan 18, but I certainly see their disappearing from public eyes a wise thing to do.
The lengthy suspension and delay of half-year report may mean the board tries to get thorougly prepared and get everything right, so mfs when relisted won't suffer the same as afg or abs.
Despite all the negative reports, there is no report suggesting that banks/lenders or ASIC moved in, right?
The end outcome may turns out that I am completely wrong, but I still like to have my analysis based on information available.
Who knows, maybe it will turn out that the board had made a great/decisive decision to suspend trading and PIF; and maybe the company will be able to restructure and list two separate companies (with help from some new equity partners) - one for the fund management businss, and one holding company for the stella stake?
MFS
mfs limited
