GC,
I don't agree that this has been engineered.
IMHO it is a general drift caused by the disillusioned who keep joining the queue to offload small amounts. There has been no real volume in this drift, and considering the state of the world economy I think it is doing quite well.Yes, the smart people are accumulating and trading, but for investors it is not an option.However many of the traders are actually investors with substantial holdings who sell a small amount and buy them back at a lower price. I know one investor who has made a lot of money over the years doing just that and still has a bigger holding now. They are not actually making money , but reinvesting for the good times ahead.
As for management,I think they have done an excellent job so far. They have shown that they are not selling out the shareholders for personal gain.MT is trying to set up his retirement so one may rest assured he is doing his very best in difficult times.
Multiserve et al are playing cat and mouse thinking they will get the goodies for peanuts. I do not think that they will succeed while BHP is in the wings.
The current situation is in no way extraordinary for the times, just frustrating to see money disappear (on paper only)
The only people who are really losing money are investors who are forced to sell for a variety of reasons and in so doing are realising their loss, whereas those who are able to sit it out will realise their profits and the prophets will be vindicated.
The above is my opinion based on age and experience
Patience will be rewarded
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