Baker - That's high criticism indeed considering all the dribble on these threads!
Psychological denial is a constant challenge facing every investor. Some handle it better than others.At 15c the same ostriches were claiming that ICI was great value and/or undervalued. At every leg down, they’ve continued to defend everything the company has done regardless of the facts.
Conditions have changed (some well beyond the control of management), but the ostriches are unable to accept this. Fundamental catalysts did not materialise during 2022 when they were expected. Remember that most holders were predicting 25c, 50c and above by the end of last year? If management were able to estimate when these projects would drop (e.g. end of Q1, before HY etc), then it’s more than likely that this would stop the selling pressure. This is all within the gift of management, so why are they staying silent?
This is what I wrote:“How FFG is managed is entirely relevant, because it is led by the same guy. You only have to spend a few minutes skimming FFG's quarterly reports and dip into the threads to see that both companies are suffering very similar issues. Is it not obvious that Kin should shoulder a lot of the blame? … It's hardly alarmist to state that ICI are appalling at comms and poor at execution. It may not be solely Kin's fault, but he's not covering himself in glory. Why should the market put any trust in him?”
I don’t think that the above even hints at a suggestion that the company is a total write-off or going to zero. As I’ve mentioned in the past, LSS is a real, solid business. I may differ with Finger about how the market values it, but it is clear that it is an asset because it is generating a profit. Perhaps you’ve been triggered by other posters’ views, but there’s no reason to misrepresent what I’ve stated.
You’ve made the link between 1) management silence and 2) declining stock price. What my posts have sought to do is incorporate 3) poor management/execution. [these are the issues that Mackum correctly cautioned against more than a year ago - that's what I agree with because so far at least he has been proven correct]
Management need to take responsibility and explain what is happening (both the good and bad things). If the company is as great as the rampers insist, then it wouldn't take too much effort from management to share this with the market, would it?
Finger – I’ve come to expect much better quality engagement from you.
"How long is a piece of string? Launches on the horizon. Holders have been parroting this for the past year - fact."you must be new to life or you would know nothing is guaranteed or perfect, especially predicting the future
The market doesn’t expect guarantees/perfection nor do I. What we do expect is high level visibility of the games being developed and key milestones. An ASX announcement clarifying the roadmap for all major releases has nothing to do with predicting the future! You also seem to have succumbed to the psychological denial more characteristic of Crazy’s lame excuses and distortions.
Thanks for sharing the quotes from the Art of Execution - one of the most useful books I've read about investing styles. Just remember that the connoisseur has to first pick the winners before they can let them run. I'm still watching ICI as I'm yet to decide whether they're a high probability winner (the onus is on management to seize the opportunity).
