I don’t know Treefern, yet I find myself laying awake reflecting and somewhat horrified about his hatred towards me.
After some soul searching, I acknowledge why and out of respect for you all on this CCE forum I wish to table some things.
To begin I would like to answer some questions and concede some points.
Firstly, Treefern is very astute. I didn’t realise it until I actually went back myself and reviewed what I had written.
Yes, I have taken a loss and I realise I am very frustrated. The loss is considerable, but relative to all the other losses I’ve had in life in in terms of the loss of family, it’s irrelevant.
As to my investment, I have gleaned peoples position relative to mine and I can tell you this. My position was significant in my own lunchbox but is now minescule relative to some of the holdings noted here.
To the matter of me holding. I can tell you in no uncertain terms I do and have for sometime. When I came onto this forum I thought it was longer than most but I have now realised that is not the case. In fact I note many of you both financially, time wise and emotionally are far, far more invested.
It is for this reason I write.
I didn’t understand the term downramper. It seems to be a forum term. I thought I was just being a realist. I realise that me being clinical doesn’t wash well but I don’t care because I strongly believe in stating what I believe is the truth and after many years of really questioning this business, I have reached a point where I am astounded, infuriated and cannot refrain from venting.
But me venting doesn’t help those here. Or does it?
Please do not take offence or think I am conceited for what I am about to say.
There are so many genuinely good people that hold this stock. I don’t know you but I can see you are solid individuals. Mega, Bonus, ReilyB, MartinC and even Ferntree (and you all know we have had our very clear differences), Chimpy and many more... you are invested on every level and it is because of that I’m going to step away. You are passionate and committed and I applaud you. But I’m not helping you or other investors by pointing out the holes.
Ferntree is partially right, I realise now I have an agenda.
But before I advise what that is, I am going to flag some things.
I came into to here to try and make heads and tails of what is taking place. I believe I now have an understanding. There were many astute people here, some that have now left for reasons I understand and many more see exactly the same issues and yet persevere. It further reinforced my thinking and just fueled my sentiment with frustration.
I have always tried to see the good in this business but Australia is small and industry is smaller. That, coupled with the fundamentals (reporting / disclosure, P&L, management etc) in addition to a unique perspective, reaffirm why I am stepping away.
But I know many of you do want to be a part of this and I hope I have got it horribly wrong. I hope you make redicilous amounts of money and you laugh at me for years to come in your castles.
But in order to do that, as shareholders you need to be a alot goddam harder and wake the bloody hell up!!!
As heavily invested shareholders, some that have spent clearly decent amounts (thoughts turn to Bonus who gets called for a lazy few at 3.9 from memory) If do not hold them to account, I can tell you that you are going to be having the same conversation in 2, 5, 10 years. In my opinion, at present, this company is completely taking the piss.
So to Treeferns belief around my agenda. There is some truth in what he has suggested. My agenda was always to state and find the truth. But he was right, I was pissed off and seeking answers. As I have now realised, I can’t and don’t want to do that though if it is at the expense of others. I don’t want it on my shoulders to be the one dragging others down especially if that impacts good people financially. Do not mistake me, I understand markets and I don’t think that the frustrations of an irrate old man influence red and green candlesticks, but you never know with super computers with AI and sophisticated algorithms picking up sentiment.
Despite all the anger, I don’t think I have said anything unreasonable or questionable and I stand by everything.
Treefern was also right about my concerns. After some digging it is my belief there are some genuine legacy challenges in that business and if left unchecked it will create issues if not managed properly. The acquisition has already left a gaping hole on balance sheet. I would be surprised if questions aren’t being asked how this happens and if they aren’t, something is dreadfully awry.
For the record, Treefern was also the only one right about the salary increase at board level. As I have suggested, the new members in my personal view will bring some great qualities much needed (finance & commercialisation) Whilst I don’t agree with how top heavy this group is, I would encourage you to vote for the increase because something has to change.
There is a AGM coming up. In my humble belief there is a lot of wrong but with real upside. But it won’t change unless you stand up.
Treefern, keep questioning, it will serve you well. Thankyou, your approach towards me has made me go inside and think.
To all, may all roads lead to treasures plentiful.
End of Bible.
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