Hi Croasian.
Yep I'm out. Not too much of a loss but main point is my annoyance with myself.
Firstly I'd seen the bad result coming, and the price of say 30 cents prior to results was a selling opportunity, and chance to get out even or close enough. I knew it would be bad results, and the tell tale of the late lodgement of the accounts as pointed out by YellowFin and Jimmy was ... telling. Yet I didn't sell prior and that was just plain stupid.
Indeed, MRM it appears was hours from sinking into insolvency on 28 Feb, so total loss was a fair chance prior to 28 Feb.
The supply base/s sale (arranged on 28 Feb... Same day the auditor signed accounts) was one of the most desperate sales I can even recall. I suppose the upside was not a total loss.
None the less MRM remains alive, for now atleast in the most difficult of industries.
Given the sale of the strategic assets, MRM IMO has nil advantage and we should see future Australian business go offshore now with perhaps some of the Farstad related entities prime for the jobs.
MRM is dead IMO, hopefully their crew finds jobs with others.
None the less, this investing business has these moments, we learn a lot from it, and find new opportunities
.
As a further thought, no doubt somewhere, at some time, in this OSV business a lot of money will be made by a few people. I think this OSV business is one of getting in and getting out at the right times....
