Producing more to increase losses. Good strategy..
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Producing more to increase losses. Good strategy..
Guys, this is fascinating. I just read the first few posts in this thread and it looked like Rakon had a great idea and implementation. Can someone please summarise what happened between 2006 and now?
The sons of the father
There are surely no surprises in today’s ann., if anything I expected worse. My guess is maybe three more anns, the last of which will be final, and by the time that comes out the family will have milked the “business” for every last cent, and of course that includes any shareholders left.
This business has long since become unique, in that it is the only one I am aware of which has for several years formed into an entity seemingly designed to do very well for the family, no one else. Creative accounting at its best? Renting/leasing buildings to/from each other?
I haven’t been in the markets a lot of years, but this, for me, is the worst rip off of shareholders I have ever seen, when one realises that the business was born in a garage out of a very bright mind. I no longer believe that mind has very much to do with the current running of the business, could be wrong. The appalling rhetoric that has gone on over the last several years serves to show that greed is a sickening trait, as in this case it is, and only, the family who have done extremely well.
From the annual meeting: "We are very confident that we will become profitable next year" Profitable for whom, I wonder. And where have I read that before, and before.....pass the Tui
Hi All,
Did anyone listen in to the conference call? Was there anything remotely positive within it? (the results presentation slides showing volume up with revenue down looks toxic!)
Why dont the media come down harder on these clowns?
Why do people still seem very keen on buying this stock despite its disastrous management and much poorer financial result? Interesting....
Must confess I once owned this stock.... I purchased on the strong rec of a Craigs broker and lost heap. I would never touch this stock again, nor listen to the relevant broker again.
My learning; "anything that doesn't kill you makes you stronger." I now do my own research, don't listen to brokers, and purchase shares via DB. I've now made all my losses back, showing gains of over 86% pa on my personal portfolio and over 101% on my 'stock picking competition' results. Revenge is sweet.