My comment was one of general nature about taking reports at face value. I hold JW in the highest regard and RSG is a significant part of my portfolio.
However, only idiot takes anything that anyone say as a gospel, especially when money is involved. I will try to test and verify anything I read from any of my investments including hotcopper posting. If you quote something from the reports here on hotcopper I will actually go and read it for myself in its full context. The same goes for any other opinions expressed here. When comes to various presentations and reports from the companies I invest in, I will continuously review them and test them if I can.
Even companies with the most honest management and the best intentions can have things go wrong. These can include budget blowouts, unforeseen circumstances, unintended consequences, typing errors in reports (I've seen my share of these), environmental disasters, false reports from rogue employees to the management, data feed errors, delayed reports, lawsuits, genuine mistakes etc etc ...
Also I hear you about corporation laws but have a look at some disastrous ASX listed companies that things have totally come off the rails ( I won't mention the names, I am sure you are aware of quite few yourself). Was the management to blame? Should the management known better or inform the shareholders earlier? Where is the full force of law? Only bunch of frustrated investors on hotcopper screaming ASIC and ASX and nothing seems to happen.
Again I am not talking about RSG, I am talking about due diligence needed in any investment people own.
I think people have the right to ask questions. As for the down-ramping crowd, I hope they are proven wrong and lose a lot of credibility. Having said this, I will read any opinion, negative or positive and verify it for myself.
Frankly negative opinions help me more in my investments than positive ones as in general I am a very positive person and I sometimes find myself to positive about certain investments and overlook a potential risk. These are very painful mistakes when after the fact you go, oh I wish I've read that fine print or that announcement.
This is only in my opinion, not offered or to be taken as financial advice, DYOR
RSG Price at posting:
$1.06 Sentiment: None Disclosure: Held
(20min delay)
