The other thing I don't understand about Brian Gaynor is the constant digs at MPG is not helping the company or share price confidence, yet Millford owns a good amount of shares in the company. It's almost like he's destroying his own investment
Brian and Milford do not write anything without a 'motive' in mind imo - be it market awareness, news worthiness, sending a message to directors & management etc. They know anything they write or stocks they buy or sell will impact on market behavior - short term anyway.
So read the article carefully, especially the ending and reconcile what is written with what Milford has done with MPG :
" Intueri and Metro Glass were the dud private equity floats of 2014 but the one consolation is that the latter was nowhere near as bad as Kiwi Bear and most of the other 1987 IPOs."
Milford sold down its shareholding by net 1% (up to 27 Sep 2017) at an average price of $1.54, and has not disclosed any further selling since then.
The cynical part of my assessment is that there is nothing to stop Milford from buying back a few of the shares sold at that price at a nice 33% discount to where they were sold?
Some of us remember how Milford behaved with Diligent - bought the stock all the way up, aggressively sold out for a huge profit and then, proceeded to bad mouth the company in every forum possible - the sp dropped by over 60% from its peak at one stage. Rumours and complaints emerged that Milford or its executives were buying back at that point.
History records that Diligent was subsequently taken over at $7.14 - so Milford actually missed out.
I don't disagree with you - am just making the point that it is interesting that no-one posted the article but I suspect the 5c selldown last week would be related somewhat to the article?
Maybe not many bother read Gaynors articles anymore ....or don’t even look at the Herald anymore.f
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Building consents looking all honky dory, with a highly correlated 9 month lag to MPG revenue, cash flow is looking promising for next couple of years.
" Intueri and Metro Glass were the dud private equity floats of 2014 but the one consolation is that the latter was nowhere near as bad as Kiwi Bear and most of the other 1987 IPOs."
Originally Posted by JeremyALD
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