Jay, I do not consider the stock market speculation. We are owners of companies. Owning a company is not speculation. Mind you, based on many of the comments here, the average hot copper investor thinks they are at the casino.
I do not accept that a company spending tens and hundreds of millions of dollars behaves like they are a dealer at the blackjack table. And the punter may or may not 'win'.
The company, as far as I can see, knew LOTS of information they did not disclose. And then we have posters here saying 'they knew something' or 'they felt something'.
I invested in CCU because they were a boring into production Silver play. I believe the world macro climate lends itself to silver going higher. So the best way to lever that is the find a silver digger.
Imagine my surprise when the company that has explained for the longest time how much silver they had says 'oh, sorry, blah, blah, blah' You know the story.
Then imagine my surprise when people say 'well, we knew we should sell, because....' But no one is game to say why. Just some feelings.
Then imagine my surprise when people say 'we know what the price should be because... But there is no valid information to base their belief on. Even the providers of the information show they are not sure.
To me the entire thing is a mess. And anyone who pretends it is not a mess - or they know what is going on - or they know what a fair price is... based on no information is a fool.
But these fools come on here chest thumping. Huh? Why would they do that.
Why did the share finish only at 34.5 cents today. If all is OK, then why is the share gone from 60 cents to low 30s.
It is not a casino. Well, I guess it is if all the players THINK it is a casino.
Should not owning a company be the place of intelligent beings. But the owners are idiots and fools, then I guess the management can do as they please.
Is it like the govt. The people get the politians they deserve. In the Aussie share market have us owners got the management we deserve.
And the terrible thing is the management DO NOT CARE. They still collect their pay packets and options and bonuses, etc etc. They pat themselves on the back and reward themselves financially for spending the owners money and having little idea what is going on.
Then the posters here either 'got out' because they 'knew' something. Or many posters explain how the sharemarket is a casino. So, shareholders either think they should be screwed (why play?) or they trade on feeling and secrets and tarot cards.
This is the Australian corporate sector???????????
God help us.
CCU Price at posting:
33.5¢ Sentiment: None Disclosure: Held