Having worked along side these fund managers for almost 20 years, I can tell you that they do exercise some degree of discipline and rigor in their assessment of potential companies to take a cornerstone position in.
They may not always get it right, but they do have a process and a check list...and I can tell you ISN will fail the most basic of them.
IOOF are not a bunch of Hot Copper posters who are prepared to throw their money at any old idea, they are professional investors.
I can see that my vocal opinion is causing a bit of grief here, so I will do my best to hold my tongue going forward.
I hope you all make a fortune.
Kiril.
ISN Price at posting:
10.0¢ Sentiment: None Disclosure: Not Held