Re: I think that Dumping on Chris and Management is totally out of line and rude
posted on
May 28, 2015 05:56PM
Well, if I were writing to Chris Chu, it would start out:
"Gosh darn it, you guys make me very rich and do it fast, and assure me at least once a week that you are on top of it, as nothing is more important than for me to know pretty much exactly when I'm going to get very, very rich, and with not too much effort on my part, I might add!"
And after that, the tone of the letter would take a turn for the negative!
Please try to stay grounded. It's not easy to have a 20 bagger or a $70 club member or a $250 billion buyout (PIM, really?).
If this all turns out to be fluff, then not only have we been fooled, but so have Ajit, Tony, Doc D, and the two new board members. That's the main risk that many of you apparently see, and I see it to, but not front and center.
Oh, the AGM won't have world event worthy news? Guess, what they very, very rarely do, and if they do, they will be held at other than 9 am, or they will be preceded by a public disclosure! However, the AGM is a good time to meet some people, and observe others who you are unable to meet.
What does appear to be the case currently, is that if any posters on this board were to identify themselves as such at the meeting, we would be considered pariah, and avoided by management like the plague. Even the q&a at annual meetings is quite controlled, normal shareholders don't want to be entertained by ranting nut cases! It's embarrassing, and I've heard of it happening with another Canadian company and it got very ugly. There is little time for a Perry Mason-like cross-examination.
I'm planning to attend the AGM to observe and see what these people are like, and I hope to be able to get some at least semi-accurate impressions. And, regardless of their beliefs, it's nice to meet people you only know from this board.
As for the tech, I could hardly build one of these transistor radios popular in the early 60's and I've not learned much in that field since. But I can read and I like to think I can read at least some people.
If I would invest only if I had 100% trust in management, I wouldn't own POET, and likely not a lot of other companies. One of the safest investments in the world, according to many, are US Treasuries - so how many trust the US gov 100%?
And one other thing, when we buy shares, we support POET but in a very indirect manner. If anyone here bought an original issuance of stock, or possibly a private placement or even invested as a venture capitalist, then, yeah, maybe you can claim to be paying management's salary, but other than that, until there are revenues which are offset by expenses that determine a P/E, we don't pay squat when it comes to operation of the company. But, as far as ranting, you've got the right, so have at it.
My rant is done for now.