Ann: Corporate Presentation, page-251

I took your post literally as you said
"I personally have never seen a company with this sort of lengthy poor management track record ..."
and therefore any company that has at least as poor record is news to you.
And now, you add seriously, that it could be 10 times longer.

I'll add a little something else ....

"the past does not matter it's the future that counts" - which is a half true statement (IMO) and one that a fundamental analysis person would make. The latter part matters the most and first part is altered to "what has changed from the past and ...".

A technical analysis person only looks at the past (i.e. price history) believing that therein lies the information required to predict the future stock price ... pattern analysis ... and to cut short discussion on efficient market hypothesis and trading pattern anomalies unless your going to present information and your assessment from journal articles I'm not interested in - others might be though so don't let me get in your way.

And lastly 5 years is a little to long but OK I guess (daresay the 3Y chart presents itself as roughly the same). Nonetheless, SEA or SNDE is a high beta stock. What have I been saying about risk adjusted rate of return. You're also tarring a lot of posters with the same brush of "sitting on losses" ... I am not because as I have repeated and publicly said over time here that I did not think SEA was a buy and when it reached the level of where I thought it was I would accumulate (not just buy a parcel).. I've done that and my average is below 35c so I am not (yet?) at a loss. I am prepared to further accumulate if necessary at the right price.

One point where we are in solid agreement is Management share ownership. Minimal is how I would describe it and because it is minimal its not referenced. I like to see the mgmt team with at least a 5% ownership and my preference is those shares are acquired on market from cash they contribute from their compensation plan. I don't have a problem with mgmt making millions from share ownership they purchase (as opposed to gifted).