sharetrader
Page 21 of 61 FirstFirst ... 1117181920212223242531 ... LastLast
Results 201 to 210 of 610

Thread: Marlin

  1. #201
    Senior Member
    Join Date
    Jun 2003
    Location
    , New Zealand.
    Posts
    526

    Default

    Quote Originally Posted by CJ View Post
    Shareholders association are supporting the windup.

    Questioning why independent directors didn't review management agreement an put it out to tender.

    And seeking NZX rule change so they won't be considered independent.
    http://www.nz.finance.yahoo.com/news...024346563.html

  2. #202
    Legend Balance's Avatar
    Join Date
    Feb 2003
    Posts
    21,480

    Default

    Quote Originally Posted by CJ View Post
    Shareholders association are supporting the windup.

    Questioning why independent directors didn't review management agreement an put it out to tender.

    And seeking NZX rule change so they won't be considered independent.
    Of course they are independent!

    $90,000 to $150,000 fees a year from being directors of MLN, BRM and KFL - not enough to sell their integrity.

    Or is it?

  3. #203
    Senior Member
    Join Date
    Jun 2003
    Location
    , New Zealand.
    Posts
    526

    Default

    Quote Originally Posted by Balance View Post
    Of course they are independent!

    $90,000 to $150,000 fees a year from being directors of MLN, BRM and KFL - not enough to sell their integrity.

    Or is it?
    And on top of all that they do all three companies in the same morning (notice how the NZX announcements come out at the same time for all three Caramel companies) so the two 'Independent' directors are actually hauling in the dosh and just rubber stamping things across all three companies.

  4. #204
    Legend Balance's Avatar
    Join Date
    Feb 2003
    Posts
    21,480

    Default

    Quote Originally Posted by Anna Naum View Post
    And on top of all that they do all three companies in the same morning (notice how the NZX announcements come out at the same time for all three Caramel companies) so the two 'Independent' directors are actually hauling in the dosh and just rubber stamping things across all three companies.
    One guesses that the independent directors better get ready to be asked the question at the AGM - "What do they see their role as and how are they performing in that role."

  5. #205
    Guru
    Join Date
    Feb 2005
    Location
    Auckland, , New Zealand.
    Posts
    3,227

    Default

    Looks like the shareholders decided then.

  6. #206
    Legend Balance's Avatar
    Join Date
    Feb 2003
    Posts
    21,480

    Default

    Quote Originally Posted by 777 View Post
    Looks like the shareholders decided then.
    Hence the contempt with which they are held by the very same people who are supposed to look after their interests.

    Reminds me of the Hanover investors who voted for merger with ALF.

  7. #207
    Legend Balance's Avatar
    Join Date
    Feb 2003
    Posts
    21,480

    Default

    Best laugh of the month :

    https://www.nzx.com/files/attachments/166044.pdf

    MLN - Determination of Directors Independence
    11:50am, 2 Nov 2012 | DIRECTOR
    2 November 2012

    Determination of Directors Independence
    Listing Rule 3.3.2

    The Marlin Global Limited Board has determined that the following directors are independent directors per listing rule 3.3.2:

    Alistair Ryan – Chairman
    Carol Campbell – Chair of Audit & Risk Committee

    The following director is not independent due to “Disqualifying Relationships” as defined in the Listing Rules:

    Carmel Fisher


    Ben Doshi
    Chief Financial Officer
    Marlin Global Limited

  8. #208
    Senior Member
    Join Date
    Dec 2011
    Location
    Christchurch
    Posts
    537

  9. #209
    Legend Balance's Avatar
    Join Date
    Feb 2003
    Posts
    21,480

    Default

    Excerpt from an interview : "we have a very similar approach to Warren Buffett."

    Guess who said the above?

    Thanks for another good laugh this morning :

    Underperforms stated benchmark by a staggering 42.1% (more if you use share price performance) so "independent" chairman changes the performance benchmark for comparison purposes to try and divert attention away from what an appallingly bad performance Fisher Fund has delivered.

    Remember that the performance is from a manager who markets herself as someone who invests as in the Warren Buffett mould!

    I think I will send the article to Warren Buffett so he can have a good laugh as well about the pretenders who use his name to get money in from investors but make all kind of excuses when they cannot deliver like Warren does.

    ********* Excerpt : "Chairman Alistair Ryan admitted that Marlin's recent performance had been unsatisfactory but he highlighted a graph showing it had outperformed the MSCI Global Small Cap Gross Index (in NZ dollar terms). A release to the NZX in July showed that Marlin's NAV had risen by a total of 7.9 per cent since November 2007 whereas the MSCI index was down 10.5 per cent over the same period. However the company's benchmark, which is the NZX bank bill rate plus 5 per cent, has appreciated by over 50 per cent since inception, well above Marlin's 7.9 per cent." *******

    And here comes the best part - Fisher Fund is doing its best so it does not matter that the performance is bad! Wonder how many brokers and financial planners read that and explained that to their clients before putting money into Marlin. Or was it the juicy brokerage that they received and the yearly monitoring fee they receive from their clients which motivated them to put their clients' money with the Warren Buffett disciple?

    ******Excerpt : "The problem with this process is that the manager is only required to "do its best to achieve a return on the portfolio which meets or exceeds the benchmark rate over the medium to long term".*******
    Last edited by Balance; 03-11-2012 at 08:13 AM.

  10. #210
    Speedy Az winner69's Avatar
    Join Date
    Jun 2001
    Location
    , , .
    Posts
    37,737

    Default

    Good Sept quarter update ......love it when things like Tom Tailor are up 27% for the quarter

    No doubt Carmel gets the shareholder discount

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •