The Whisperer and the poster

I was once in a small company
One of the directors would go on Broardband oozing charm and confidence and extolling the reasons that investors should buy shares in the NEXT BEST THING.
About the same time one of the posters on H/C started a Parallel website extolling the huge profits that the company was going to make .
The Director gained huge popular following by calling to shareholders and receiving calls from shareholders always with news that was coming, but never used email for this.
The board was taking huge remuneration .the director even taking a % of funds that he raised.
At a spike in the shareprice one poster had 17 posts in one day.
The company then picked up on another “New idea’
And raised over $200 million from shareholders
Only trouble was that the new idea was 9 billion tons of oxidised low grade coal years away from a rail link
Only late in the game did I find out the primary mine had a overburden ratio of 7to 1 and was never viable

Eventually the small Mums and Dads that dominated the companies register were financially exhausted
$100,000 invested in the company had been reduced to cents by consolidations and share price slide.

Motto of of this story is that populism does not guarantee good governance
And enthusiasm does not guarantee our investment.

RB
PS the company was CCC.ASX= broke and delisted.=Shareholders lost the lot.

But does it not all sound a bit familiar
RB