George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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The best one yet, energy, I’m quite jealous
I thought Stockholm syndrome was a psychological state where hostages begin to feel empathy with their kidnappers.
I feel like I’m hostage in a bizarre Groundhog Day roundabout where the same topic is repeated over and over and over.
Didn’t Einstein define insanity as doing the same thing over and over and expecting a different result.
Al sold some shares to buy a house, some think it was acceptable some unacceptable, can we please move on.
With cheese
He needed cash NOW. For anyone who has bought a house previously may know that ‘completion dates‘ (when in a chain) are impossible to control. He sold 3-4% of his holding and in the grand scheme of things is going to be fvck all.. Big Al knows he’s going to be a multi millionaire anyway.... one thing I know is we have a fantastic CEO who has a super strong moral compass. Those that are p1ssed at him for buying a house really should take a look in the mirror!
Yawn. This again. We’re over it, for someone that’s sold and wished us all good luck, maybe you should get over it too. The share price has.
If we’re wheeling out the same old posts, I can confirm it isn’t us.
Blah blah blah, you really do have a thing for Stockholm amateur. How was that trip of yours? Or was it all some sort of cognitive bias whilst you sat at home in S****horpe?
Perhaps he's not greedy... He has some shares.. So he cashed them in towards the purchase of another house with timing just being about the timing of when he needed the money to complete the purchase. Nothing more and nothing less if your not the greedy sort because you still have ample shares/options left to make life very very comfortable if all goes well with the company and the SP grows...
A greedy person would take out a bigger mortgage or forgo the purchase right now.
I think he's showing honest integrity...
Hi Speranza.
I here your point. However, a CEO who states the company that they run is going to explode in value soon simply wouldn’t sell any shares before delivering at least the bulk of that growth. To sell before they have achieved that stated meteoric growth must call into question any or all of the following, to the realistic investor:
1. Their integrity;
2. Their judgement;
3. Their honesty;
4. Their ability.
Time will tell. Does big Al know something we don’t? - The answer is a guaranteed ‘yes’ - he’s the CEO. The next question is has he really sold shares simply because he couldn’t wait a while to hold that big house warming party or large dinner party - oh, hang on, Covid restrictions. Ah. Forget that line of questioning. Perhaps then, he knows that if the promised results are delayed/missed, his shares might be worth a helleva lot less and even this new property will remain firmly out of reach. We, of course, will never know for sure, but we are fools if we don’t ask that question to ourselves and think deep about his likely real reasoning.
For the record, I am not ‘out’ as PL75 suggests. I still hold ACVT, but I have have de-risked completely because of that CEO share sale. It’s a choice based on experience. If said decision is wrong I won’t make as much money, if it’s right I still made money. Happy days.
Love, peace, wealth, health & humour to you all.
Intrepid.
Intrepid... Cognitive Bias is the same as Share Infatuation ? Stockholm Syndrome ?
I seen it a lot with PIs.
Yawn. This again. We’re over it, for someone that’s sold and wished us all good luck, maybe you should get over it too. The share price has.
If we’re wheeling out the same old posts, I can confirm it isn’t us.
With this logic, he can only sell when he’s selling the company...
Methinks many on this thread are guilty of ‘cognitive bias’ - its one of the biggest problems of a PI.
IMHO, the ‘story’ isn’t why he used the word ‘dollar’ instead of ‘pound’; it may or may not have been intentional but it’s not really material. If anything, one could argue ‘dollar’ was used because it is easier to be a ‘dollar’ anything, compared to a ‘pound’ one; about 25% - 30% easier right now.
But isn’t the real story this; why would anyone sell shares where they are saying they are going to turn those shares from £1.80 to £200+.
Is he seriously saying he’d rather gran an extra couple of bedrooms and maybe a swimming pool now, (whilst risking undermining or bringing into question his integrity), instead of waiting a couple of years and selling those same shares for Nx more, and buy a proper pad (helicopter type, which attached ‘Lord of the Manor’ style house with all the toys).
It’s simply bonkers that someone/anyone sees the ‘dollar’ question before the actual ‘billion dollar question’.
But that’s cognitive bias for you.
Good luck all, but please don’t try to bend all the narrative to fit just your hopes. Try to stay truly objective and see beyond it all.
Cheers
Intrepid
Doggy it’s also on Avacta’s own page on twitter so Big Al’s wants everyone to see he is talking Dollars not pounds.
Been moving cows allday
Doggy link to article https://www.sharebuyers.co.uk/shares/avacta-shares-going-for-growth-world-moving-rapidly-again/
@Doggy100
Surprised you've missed this but it's here... https://www.sharebuyers.co.uk/shares/avacta-shares-going-for-growth-world-moving-rapidly-again/
Conveniently placed piece of PR following the house gaff?
On the ball as always...
We’re did you get statement?
This is certainly the 'Thread' of the week.
Fantastic spot there EnergyShares.. Looks like Al has let the cat out the bag there
£600+ quid blimey, might put the 'house' on it
Woah, that's a decent price! to be fair I don't begrudge Sir Al a nice house even if it only gets to 10 quid
ROANE = Warren Buffett ??
Btw,
Roche mcap = $280Bn = £215Bn
Thermo Fisher = $193Bn = £148Bn
Abbott = $193Bn = £148Bn
That’s a prospective share price of £600 - £860. I assume all exc China. Makes my ramping look decidedly amateurish, I guess that’s why he gets the big bucks and buys the big houses.
So thats why he bought the house then. A pretext to turn up at the multifloor showroom just as Warren is looking at some lovely sequioa flooring