06-25-2013, 09:09 AM
I think the task of management is primarily to run the business, not to explain every twist and turn of the share price.
That isn't saying that communications have, at times, been poor, but realize how difficult this is as well.
The first task, and responsibility of a shareholder is not only to realize what the rewards, but also what the risks are of holding a position in a particular security.
The risks, apart from general market risk (which we saw in the last couple of days), is that until there is a signed deal which terms we can analyse and value, and which de-risks the shares to a substantial extent, volatility will likely be the norm.
However unfortunate that is (although realize there are people here who are doing really well on that), it's a reality for which management has only limited responsibility, and it's a reality that has been the norm, so it can hardly be a surprise.
I'm not saying we can't hold management to account, but for business decisions or the way they communicate. The stock price volatility is mostly just a distraction for them (and they have quite a bit at stake in that department as well).
That isn't saying that communications have, at times, been poor, but realize how difficult this is as well.
The first task, and responsibility of a shareholder is not only to realize what the rewards, but also what the risks are of holding a position in a particular security.
The risks, apart from general market risk (which we saw in the last couple of days), is that until there is a signed deal which terms we can analyse and value, and which de-risks the shares to a substantial extent, volatility will likely be the norm.
However unfortunate that is (although realize there are people here who are doing really well on that), it's a reality for which management has only limited responsibility, and it's a reality that has been the norm, so it can hardly be a surprise.
I'm not saying we can't hold management to account, but for business decisions or the way they communicate. The stock price volatility is mostly just a distraction for them (and they have quite a bit at stake in that department as well).