What I find most galling about this situation, and excuse my naivety, is the total lack of logic. I understand that people don’t want to lose money, but as an INVESTOR in a coy, we have a part ownership of that coy. We therefore have responsibilities - to interrogate and question Directors (those with superior accounting and managerial skill than I have failed here); to support our growers, R&D people, workers; and to each other as participants in this business.
OK, according to some smartarse yankee group, QIN is worthless. So explain to me why, if the shares are so worthless, why would anyone buy them? There are plenty of sellers AND obviously buyer/s.
It seems to me that a lot of share holders (as opposed to investors) have been told that their ship is sitting a bit lower in the water than they thought - maybe someone has been below decks putting holes in the hull; maybe the skipper and some of his crew have been asleep or checking out the entertainment facilities rather than navigating. Someone notices the lowering position, and too many people rush to one side of the ship and it starts to tilt. Panic sets in and more run to that side and the listing exacerbates. But the ship still has cargo - valuable cargo.
Rational people (ie INVESTORS) would try to re-balance the ship, look for the leaks and think more about saving the cargo, their mates and crew rather than themselves. Because if they don’t, just over the horizon are the pirates, ready to raise the Black flag (with a rock instead of a skull on it), come onboard and pillage a near-deserted ship loaded with goodies (because they know what is valuable). They are happy to see the deserters leave, they understand greed - they wrote an article about it.
I know the captain and officers seem to be suffering severe seasickness.
The older navigator seems to have lost his way around his own ship.
Where are the top 20 first class passengers on the QIN ship - have they deserted? If they have not, then they should be standing up and taking command. They got the preferential seats at AGM’s, so get off your backsides and ask the hard questions and tell us what is going on.
I also know that if the panic to run to one side had been tempered by more of a rational approach and less ‘me, me, me’, and more of what one post referred to as a more democratic display of what true capitalism is about, then the ship would still be on an even keel, admittedly deeper in the water, but still afloat for everyone on it.
Given a choice between being raped and pillaged by the unknown over the horizon OR “putting all hands to the deck”, then I am taking the second option.
I’m keeping my shares. I have been on this ship since it first embarked. I think the logic and reasoning behind it from the start was sound. It has taken a long voyage to get close to its destination. The ports have not yet been fully identified, but the loads are valuable and given time, they are going to be even more so. I believe that and those who are loading their portfolios with ill-gotten gain also know that.
I might sound too emotive, but it is all emotion when someone shouts fire! and all head for the door. If the door is locked, it is too late to organise and fight to save everyone. I won’t go down with the ship. I can still swim but it just pisses me off when I know the flotsam and jetsam around me in the water is going to be collected by a bunch of parasites who see the wood, but not the trees.
QIN Price at posting:
46.0¢ Sentiment: Hold Disclosure: Held
