Pathetic Company10 Sep 2020 11:51
BODs (or an element thereof ) showing possible signs of committing 1 or more (possibly all 3)? of the following.
1) Reckless, hopeless ineptitude.
2) Dishonesty, as in not telling us the true facts and reasons for constant underperformance, blithely trotting out a constantly expanding set of excuses.
3) Committing or failing to detect fraud or frauds.
My fear is all three could be at play. Clearly heads must roll, and I for one would like to see an independent investigation of all aspects of the company. In the early years the great performance and progression was presented (truthfully?) for all to see, and some,like me, were naively sucked in over a number of years, averaging down.
I am sure there are many like me sitting on big book losses, actually dwarfing those of my other rock solid investments such as FJET and Carillion, to name just 2. We deserve to know whats going on! Fortunately I never invest more than I can afford to lose. Possibly my spread of investments probably results in me not really understanding enough in depth about any of them. I am perhaps, beginning to smell a rat. Any new investors could still make a lot of money here if my hunches
are wrong. Good luck, DYOR, try to read between the lines, and build up an investment slowly in small tranches, and do not be tempted to keep averaging down. Contrary to my normal practise, I would need very solid news to invest more here. I would not for instance participate in a discounted rights issue. You will not miss out on big permanent leaps in the SP., there is no longer any FOMO here!This has become either a (very) slow burner, or a damp squib, I do not know which. I am just hoping I can staunch my losses without increasing my holding. All the above is only speculation on my part, and I am not alleging fraud, just questioning whether it could be a possibility.
Rant over. Good luck all invested here.