The amount of times that someone has called up about MAD has been almost a weekly event since late Jan/early Feb .
On every occasion they have either mentioned to sell or take some off the table & get a free ride on the rest as the run up has been too steep . Now I don't have a problem with the advice of taking some off the table , if that advice is based on more than " it has run up too steep " .
If any of these " experts " had a proper look at this company ie :
1. Seen their announcements. 2. Read their Presentations. 3. Done a peer analysis ( alla Davo ). 4. SWOT analysis 5. From their Presentations read the many upgrade announcements to come near term. 6. Read up on the history of the guys running this company & the experience they have in the area they are drilling . 7. DHealy of the above again.
....they might realise the true worth & then potential worth of this company !!
One " expert " one week even had the lack of nous to say that shale gas companies whilst all the rage are not all going to be successful .
Take the following article from the Herald Sun earlier this month as the best advice on these " experts " :
Bad financial advice is rife.
THE standard of financial advice in Australia is dismal. It makes me cringe. I'm sick of endless horror stories about bad advice and lousy advisers.
It's ruining people's lives, stealing their happiness and destroying their futures.
And nobody seems to be doing much about it. The Government has failed, the regulators have failed and the greedy advisers continue to prosper.
Yes, I know, it's a broad brush that I'm using to tar all advisers, but I'm hoping for a shock impact. And, actually I don't think I'm too far off the mark.
The latest research suggests that only 3 per cent of advice in a new survey was "good".
The secret shopper survey by the Australian Securities and Investments Commission reviewed 64 retirement recommendations made by advisers around the country - only two were judged by ASIC's panel of experts to be "good".
One in four was "poor" and the rest scraped in with "adequate".
So if you are one of the "good" advisers, don't get on your high horse, complaining that your industry is being unfairly maligned.
As members of the advice industry you'd be better off using your pent-up steam to do something to improve things instead of turning a blind eye to your colleagues' poor behaviour.
Secret commissions may soon be outlawed, but commission-style payments will undoubtedly remain - they'll just get called something different, like an adviser fee or a fee based on assets under management.
And as long as an adviser has a code of conduct to say they'll do a good job, the poor old consumer will keep being slugged that regular advice fee infinitum - no opt in required - just trailing on for years and years.
And despite a raft of other tinkerings and reforms looming for the financial advice industry, nothing is being done about the thousands of advisers paid by parent companies that make ... wait for it ... financial products.
Think the big banks and wealth management companies with their armies of advisers.
Despite a strong link between poor advice and company-related products, it appears the Government and regulators still think it's a mere coincidence when these armies of advisers recommend their in-house products.
Bad advice is rife and banning upfront commissions is not enough to fix the problems. Making a law that says advisers must act in the best interest of their clients also isn't enough.
Which, unfortunately, means the burden still rests with the consumer.
And isn't that a double bind. Most people won't even be able to tell a bad adviser when they see one.
FDM Price at posting:
$1.30 Sentiment: LT Buy Disclosure: Held
