Have to agree with you Pete. Years ago (rather decades ago) I had heard there was a broker in Aus who used to tell his staff that their objective was to convert investor's capital into their brokerage... over a period. Quite honest this bloke. The management (including directors) of listed companies at that stage were a bit more dedicated than now. But I fully agree that now the directors and senior management have joined the broker's philosophy which is to convert the shareholders' funds into their remuneration. This is not sustainable in the long run, but for the moment we are the mugs who are providing the play money to them. I have had better luck with property (not property funds, but real property) I must say.
NCM Price at posting:
$12.35 Sentiment: Hold Disclosure: Held