Lifestyle companies or cash cows for the intellectuals , one may...

Lifestyle companies or cash cows for the intellectuals , one may call them, on the good side they have a self interest to perpetuate the life of the cow , no more sucking teats if its dead and they would get a bad reputation , so they do do some work to make sure that their salaries are covered and occasionally accidentally create grater value than needed so the poor bleating retail investors get a little crumb from under the table.
My strategy has been to look for undervalued propositions, so 10 years ago i found this little company with a plot of contry the size of Texas in the middle of Australia that was under explored and thought , hey this in the right hands will be valuable one day, i still think that , its just the one day has not come yet.
I dont think these guys are lifestylers , as i said above there are many factors that affect the progress of any business. This is a very tough gig.
On the positive i believe that the new pipeline that is proposed will be a gamechanger and we have yet to see the outcome of the recent farmout.