Hello CF,
Your question is that which I posed at then end of the AGM question and answer session, something to the effect of: "It is clear that there is obviously great things to come to OBJ, evident in their achievements to date. But how is it that the market seems completely oblivious to this, as reflected in the share price? Can you comment on that?". I didn't really expect a direct answer from Glyn, as they have no control over market sentiment. And that's what he said - 'can't really comment'.
My own view is that:
- the directors and employees and other agents of the company have an idea of the true value of the company;
- I have an idea of the true value of the company, as do a number of others on this forum and outside this forum; and
- the great bulk of the investment community, however, do not.
Consequently, the market is oblivious to what will be happening with the company a year from now and assign it no significant material value as a consequence. So many mainstream investment advisors say 'the market this, the market that....'. I've told friends/colleagues about OBJ, and they go get investment advice from their stockbroker who says 'Ohhhhh too speculative too speculative, I wouldn't invest in that company.... it's a penny dreadful." And then I ask my friend, 'what do they know about the company apart from pulling up their 12 month chart and looking at a summary of the financial reports on their trading platform?". My friend's reply, "Ahhhh... well, they're a stockbroker." And I say, "Okay, that's fine. I've told you what I know. It's a matter for you."
In short, if you rely on 'market sentiment' in relation to OBJ at the moment you are effectively relying on the majority's ignorance. I've spent years holding this stock and looking for a reason to sell it. Every stone I turn over, I keep finding circumstantial evidence that points in the opposite direction.
Just my opinion of course - certainly not investment advice. I am fundamentally a presumptive pessimist, but that presumption has well and truly been rebutted with OBJ.
Good luck in your decision-making process with respect to OBJ. I understand how hard it can be.
J
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