Thanks for your comments,@Manabouttown.I tend to agree with your...

Thanks for your comments,@Manabouttown.

I tend to agree with your sentiment in avoiding businesses where there are questions over the KMP's character or management style. I don't have any particularly strong views on Baxter's character, or the accusations leveled against him. I do take some comfort that the Chair is risking political and reputational capital by filling the seat; if he jumped ship that would be a concern.

But, in saying that, if you have a view on his behaviour or abilities I think it's certainly sensible to factor this into any assessment of the company.

Put another way, this is in an investor's version of Descartes' Cartesian Doubt; if in doubt, the wise decision is (often) to pull out.

The investment universe is big enough not to invest time, money or thought into companies where you feel management or owners are not acting in your best interest.

All the best.