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54.5¢ slater & gordon limited

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optimistus

4,900 Posts.

894

18/11/17

17:37

Post #: 28919855
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Originally posted by Dr.Who ↑

Fish, not sure what motivated you to write that. The thrust of my post was nothing to do with making excuses, quite the opposite, take responsibility for own actions.

Well over 18 months ago I wrote in my opinion it is too great a risk, following the guidance withdrawal. A risk I was prepared to take for a time (hence remaining cautiously optimistic for while longer than I should have with hindsight) and besides that when I changed my strategy I did very well out of the latter part of holding SGH (relatively speaking).

I haven't held SGH for a very long while so not quite sure where the head in sand comes from.

Regarding management,I said they made a serious misjudgement and were reckless. How does that make excuses for them?

I've used the noun hindsight on a number of occasions with deliberate thought. It can be galling to read 'after the event experts' but as Brad would say hilarious at the same time. I've followed this board since PSD purchase and I can tell you there were no posters (that I recall) speaking of 5c or less and insolvency, yet now posters come out of the woodwork and say it was obviously in trouble from way before PSD purchase.

Hindsight is a wonderful learning experience for those willing to learn and not blame, for others it can breed false confidence through their 'told you so' - no real learning just jumping on a bandwagon. I'm not bitter I enjoyed my SGH ride and I've learned an awful lot more about the legal profession along the way.

I've also added extra strategies to my stable, from observation of market behaviour, which is far more valuable to future success than a small period in history where losses were temporarily uncomfortable for a short while. I'll gladly admit that I've learned a few things from this board about aspects of TA. I'm grateful for that - I'll keep to myself the poster(s) that have had an influence on my style but cheers all the same!

One of the best takeaways for me is to read into body language and how matters are documented. I vividly recall feeling unsure following the obvious tension between Wayne Brown and Andrew Grech during the 2015 results telecast. I thought 'something is not right there' but quickly dismissed it. I'm now more alert to the less obvious clues for problems arising, such as detecting signs of stress in words chosen and vocal delivery and the dynamics between management. Likewise the tension at the 2016 AGM was palpable to those that attended, one could almost feel and see the 'worry-haze' surrounding the exec team.

All just my opinion. If it contributes to a reader thinking a bit different about matters then great, if couldn't care less then no problem. It's only discussion and whether we accept it or not discussions add to the richness of learning, either through reinforcing something (as a bief in an explanation or further diversion of view) or adding something new.

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Does "taking responsibility for one's actions" extend to taking responsibility for penning incessantly positive posts that turned out to be very, very wrong and admitting that such persuasive boosterism may have convinced some investors to stay in too long? Or to reflect on their absolute hostility to negative posters who turned out to be right and admit that they went too far?

Should people take responsibility for that as well?

By the way, I don't include myself as someone influenced by the boosters on here. Most have been about as subtle as Beavis and Butthead.

SGH Price at posting: 4.4¢ Sentiment: None Disclosure: Not Held
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