All,
I guess thats why we follow Mr Patterson.
He knows business - just look at the performance of Myer to date. Yes it may be market sentiment, but he knew too well to jump on board a leaking boat. Myer was overpriced at IPO, why else would private equity sell all their shares at bail out time?
A very smooth and cool investor, one in which keeping him on the board will do all good and no harm - despite what the MBA corporate governance type say.
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