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clock Created with Sketch. 08/01/18
20:17
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Originally posted by SRV
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You won't be able to reason with these people I'm afraid - this one invested in Aussie ag yet by his own admission only one of a raft of those stocks has ever put any money in his pocket. Last week we had two other devotees who said that even if they lost 100% of their investment in LON they'd still be 'happy' putting the money in now - regardless it seems of the apparent 66% approx overpayment for acquisition of a minority stake in loss making Maggie Beer Products too. I personally suspect the reason Paris Creek may not have appealed to BFC was the fact that the core business isn't scaleable - there is simply not enough organic supply to scale up, given its niche - and being local to SA only. A fella I spoke with last week was still incensed at the mess McBain left in her wake at Bellamys - he had family & friends who were burned, and felt very aggrieved that the same situation, sucking good Aussies in thinking they're doing their bit by investing in our ag or dairy industry are on some noble mission, might occur again. He wasn't impressed when I told him that I thought many lost money because they weren't very smart, and should've probably kept the cash in the bank instead of putting their hard-earned into Bellamy's whilst McBain ran the show. Unfortunately given the level of reasoning evidenced here, and in the face of verifiable information in the financial press & elsewhere, I think that's probably spot on.
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