Nigel Rigby the CEO has just purchased $300,000 worth of shares. This is no token amount that we see in the purchasing behaviour of other directors or management of other companies. Either the guy is a total idiot or he correctly believes the company is undervalued. I don't think he is an idiot (I went to the AGM) so I have purchased more shares but it is still only 5 % of my shareholding and I am in the red on this one and will be more than happy when it returns to the black as I am certain it will.
I think this is a fair assessment. Based on my impressions I see Nigel as quite capable in his role. Not that sure about all board members, but I hope that the chair felt the slap he received at the last meeting - and I think the reminder of the board is quite competent. Let's hope they find a good way to resolve this issue in the interest of the shareholders.
Obviously - from a TA perspective Hoop is correct as well - the TA looks bleak, but then - it always looks bleak when a company is at its lowest point ... but obviously the fact it does look bleak does not mean it must be at its lowest point.
As well - while I highly value Hoops contributions (and he understands much more about TA than I do) - he is not always right (and neither am I). Just another risk to assess.
Investment is an activity based on risks - and normally the higher the perceived risk the higher the potential rewards. Risk implies uncertainty - and exactly that is what we investors have to live with (if it would be certain what happens, the markets would not work). Personally I think the potential rewards (at current SP) look ways better than the potential risks (of a further drop).
Discl: Obviously I bought (with the benefit of hindsight) too early. Too bad ... but at current price happy to hold.
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
No matter what the origins of the money it is still 300 grand. You can buy a fairly decent car or boat with that sort of money rather than throwing it at a company that you know is a pup because of your insider view. If I was Rigby and I had a view that the company is a hopeless case I think I would start building a new deck.
He may see it as a safe investment. If you have 300k lying around you put it into a good sound dividend stock and earn more than you term deposit If you have 20k lying around you might put it into something more speculative for higher risk/higher gain. He already has a deck...
No matter what the origins of the money it is still 300 grand. You can buy a fairly decent car or boat with that sort of money rather than throwing it at a company that you know is a pup because of your insider view. If I was Rigby and I had a view that the company is a hopeless case I think I would start building a new deck.
Don't think anybody is saying Metro is a pup / basket case / another IQE
They've been around for decades and will still be around in decades time
And I think we agree probably cheap as at the current price (so a good time to buy ..or not sell)
Will it go back to 2 bucks again .....or will it just be another Methven as some as suggested.
Good to see bargain hunters out in force - the same punters who couldn't give a stuff about Metro in the past
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
He may see it as a safe investment. If you have 300k lying around you put it into a good sound dividend stock and earn more than you term deposit If you have 20k lying around you might put it into something more speculative for higher risk/higher gain. He already has a deck...
.......with glass balustrades
Very nice too
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Reply With Quote
Originally Posted by percy
Bookmarks