Sorry if this bores or wastes others time but RTFQ's post reminded me of the BIGGEST win I ever have had in >30 years of investing.
I ended up as a Top 20 shareholder averaged in at just <4 cents over 6 years, having started shortly after the $1 float at 80 cents. It was a +Disallowed but the size of the return isn't the most important point.
Long story short I held firm because this company was truly 'cutting edge' (& not in Mining ironically) but as an early mover was totally misunderstood by not only the market, but those who had invested in it. Fortunately I was in the industry and could see why others could try to imitate but never fully replicate their systems.
But the greater irony was and why I think I need to drag out the punch line is it wasn't the Good business model or Great Day to Day operation of the Management that brought the motherload (even though it ultimately determined the sale price).
It was our ability to use our contacts (But most credo to the CFO) to renegotiate the BIG 4 BANK's hold over the company before some PE/Hedge Fund did. As they generally do they wanted to get out so we bought the debt for 55 cents in the dollar with a back to back refinance (ironically with a Bank strongly in PE/Hedge Fund Management) on reduced terms (@ 75% of the interest because of reduced gearing).
SO I WONDER IF ANYONE AT LYNAS HAS THIS SKILL.
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$6.92 |
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Mkt cap ! $6.468B |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
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Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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3 | 15610 | 6.890 |
5 | 33363 | 6.880 |
4 | 23308 | 6.870 |
3 | 16510 | 6.860 |
Price($) | Vol. | No. |
---|---|---|
6.930 | 2500 | 2 |
6.940 | 4182 | 4 |
6.950 | 19265 | 4 |
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