Well, I apologise if I may sound upset, but it's with good reason. It's mainly down because after what happened with Bellamy, I can't trust any company. I am happy to learn more about how the sharemarket works, because the more I know, the better my decision making power then, however, I am just not liking this sign of mantra that's all.
People did so called 'research' on bellamy. The company had a solid rep, it had a CEO with a great track record, only to have the CEO being kicked out and now everyone is bailing including the directors. Look at how much the shareprice got trashed because of that. The share price was obviously inflated for the CEO and I am hoping that ASIC does investigate the people responsible for losing a billion dollars off the sharemarket. For these overpaid people at the top, it's pocket change, but those that geniunely do an honest day work, it's a months salary.
Mantra is heading towards the same direction as Bellamy. Infact, it looks identical but going slowly hoping that no one else would notice. Sorry if I am sound angry, but this my hard earned money I am investing, it is not some trash money that has no value to me or money that I play from the ASX sharegame. Because of Bellemy, many investors will not get a cent for what they've invested and will be at a significant loss because of the misleading information given from companies. Are you worried that the lack of news is not good news at all? The directors can say that there is nothing wrong but there appears to be something wrong but they won't announce it. Had I invested these funds in Macquarie bank,I would have made a lot more than I would with this company and Bellamy. Bellamy has got multiple pending lawsuits on and what we've witnessed was a circus with Bellamy, and good luck to the current shareholders thinking that they are going to get any money for it or get any compensation if the company goes into liquidation.
Many people are also going on the advice of so called analyst that people PAY to provide the right information, but obviously MF doesn't do that either. They went from changing Bellamy from Buy to Hold to Buy to Hold and then finally switched to sell, thinking that no one would notice. Mind you, this advice not from the front screen but their hidden pro service that costs 2500 a year. I sold today because I couldn't take it falling any further because i know it's going to fall even further. I shouldn't have bought it at the price I did, but I'll recover my losses through macquarie bank which seems to have a way better sound business than this trash. I may come back if the HY are better, but they are not getting my vote if they are going to continue to lose my money. You don't invest in the sharemarket to lose but to gain money. I could have made more had I put this in the bank than this company, that's how bad the situation is.
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