SRF 0.00% 6.8¢ surfstitch group limited

dumb money

  1. 98 Posts.
    I'm part of the dumb money buying at 11-12.5c. When this stock floated I howled with laughter at how ridiculous the business model was relative to the market capitalisation.
    The smart guys pranced around and pontificated about all the positive merits whilst I suffered the scorn.
    Anyways I've held off until here because there is now the beginning of the new game ;
    - new CEO storms in and writes everything he can off for a massive accounting loss
    - Management does slightly better in year 2017 and everything above massive write down is booked as a 'genius profit'
    - all sorts of praise is thrown round and management and consultants get lots of cash and shares
    - eventual opportunistic takeover bid comes in at 22c
    - new owners make it work and make circa $50M
    The conclusion - be dumb and buy shares here and watch the circus but at least make a 100% profit.
    Its a rort but at least you're in it.
    Dummies raise your heads high !
 
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