RE: Mr. Christopher Richard Lascelles14 Sep 2014 09:49
It's understandable to have an opinion and thinking when you have experienced what you describe in the past. I had shares in a company called cosalt plc, chairman the one and only David Ross from carephone warehouse who is worth over £800 million.
Within his tenure the company lost all value, reported few results, broke lse results and then got dissolved quietly in the background without anyone finding out what happened. Poor decision, too much debt, an ego etc and then he walked away from people pensions, investments etc after the company had been but over many years.
It's difficult to know for certain background of the bosses and ultimately what they are doing. I don't believe British law protects us, infact it's weighed in favour of the CEO and bod as seen most recently with pretty much every major bank. Plus if you mix and support the political parties you can list a business, gain private money and then dissolve without great challenge.
A this time I trust this board, some of that is through direct conversations and looking at the other funds who have invested. It's a hard one to get exactly right.
I have also invested in fairfx plc, the big boss has also had several companies dissolve but also some great successes. Very few successful businessman make it the first time around but I think you are 100% correct that personal understand and faith in the bod must be there.
What I like from dibs is the comment that the bod are now after sales and where and which marble they see the market being in. I think the quarrying has now been made the easy bit, selling could start hard but if the quality is the very quickly also become the easier bit, GLA