Growth15 Jun 2022 22:00
I looked at the market cap here yesterday and it was 7 million. Today it is 6 million. So a million in value destroyed by a few tens of thousands in trades. That is just a road to hell, with 1.35 to sell, at the end.
The latest RNS still says the company is a financial advisory business providing specialist consultancy, advisory, and supplementary services to institutional and qualified investors globally in the multi-billion dollar market of life insurance linked longevity assets.
It clearly is no longer that. It is buying up distressed insurance companies in tax havens, just to boost the mythical AUM number. Buying distressed debt was the GS previous venture on the LSE and it failed. He still wants to prove he is a distress turnaround manager, when he should be proving he is an organic growth manager.
How come Danny Swick earns more than Boris Johnston without ever getting a mention in dispatches? Smells of California lifestyle on steroids.
The company has lost its way, and the PI saviour apparent, MW, seems in line for a directorship and another six figure salary going out of the door.
There has been no growth since IPO, despite the millions spent. It's not what it was supposed to be and that is reflected in the market.