Current Top20 Shareholders List, page-33

Hard to settle folks on this topic and hard to discuss it without running awry of HC rules.

A couple of principles - 1) I don't want to defame or be unfair to anyone.
2) Just because people are in a position where they could benefit from doing wrong doesn't mean they do. Some have good character (and that good character may be better known to those that know them better).
3) Shareholder empowerment, in my opinion, is better served by not having situations or systems of reporting where insider trading is too easy and too tempting. A strategic advisor that is not an employee of the company but has lots of potentially useful inside information would always be noteworthy to me in any company (that's about me maybe - I'm wary of human nature - I reckon Bernie Madof (?) would have been quite affable before he made-off - the opportunity for one really big financial payoff might appeal to just about anyone).

As an investor or trader, the area where I feel most exposed, because it is something I can't research away, is having to invest or trade against an insider trader or false market.

Do I honestly think ML or any of the managers of AVZ are not doing their best (within reason - people still make mistakes, exercise slips in judgment from time to time) for retail shareholders like me? - No, at the moment I don't. I believe on balance they are doing fairly close to their best.

But I still want to be vigilant.