RE: RB tweet11 Jun 2019 19:38
wellwell,
It's always good to get a balanced view on Richard Bernstein and his worth to HUR.
Whilst RB did put a chunk of money into HUR when they floated on AIM back in 2014, it could be argued that he hasn't done an awful lot since to help the cause.
The 2017 raise was mostly down to Kerogen and CA got those warrants as a sweetener not a reward as he loves to say.
CA didn't manage to bail out the SP back in 2017 either. Blame HUR for the warrants fiasco (near to insolvency (my pick) or wanted to get the SP down for the equity raise or gross incompetence, take your pick).
It went down to 24p anyway and CA did very well out of that one.
Richard "I give a lot to charity" Bernstein just dilutes his shareholders and creates new shares in the fund which are then given to charity. He doesn't put his hand in his pocket as he likes to infer.
RB has a history of ramping tweets and selling at the same time but hasn't done it for a while, so it will be interesting to see if he's up to his old tricks at this week. Very unprofessional. Sort of behaviour you would expect on the LSE board not from a professional investor.
CA are way too overexposed to an AIM O&G stock (even if it is HUR) for a professionally managed fund. They were up to circa 35% of total NAV back in early 2016 and that was before the 3 well drilling campaign had begun.
Over 25% of total NAV as of the last report which is fine for a private investor but outrageously risky for a professional fund.
The CA fund is not exactly setting the world alight either, so I question his supposed talent and abilities. Picked a winner with HUR I suppose but others not looking so hot at the moment.
RB doesn't give a fuck about HUR, he is only interested in himself and his fund, so please don't pretend otherwise.
I've listened to him in conversation at the 2016 AGM and personally found him to be somewhat smug.
But the worst thing of all is that he is happy to trash the BOD in the press and via his twitter account and in my book, that's simply not on.
FWIW CA didn't have any friends at the AGM and I'm not just talking about the shareholders. RB hasn't turned up for the last two AGMs either. Speaks volumes.
I struggle to understand why you come to his defence at every opportunity and cannot see that the negatives far outweigh any positives, especially as there are none at the moment.
Yes, he put in some funding at an early stage but at what cost thereafter ?
Personally, I can't wait for him to slowly but surely sell down his position in HUR.
Just my sixpence worth, you understand.
GLA.
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