Ann: Change of Director's Interest Notice, page-35

Hi uni,

If we put weekly pay and long term views to the side, let's focus on the elephant in the room. There is simply no legitimate reason for exercising options into a loss situation when there is ample supply on market. Oh but I can hear "he's just showing confidence!" being shouted at computer monitors already. Well, there's plenty of examples in history of people showing confidence in foolhardy and irrational ways.

Muldoon, for instance, who drunkenly called a snap election because "it didn't give his opponents much time to get ready" ended up in total defeat.

Confidence doesn't make something smart, practical or effective.

So if we entertain the idea that confidence isn't that narrative then what does that leave... Certainly not clever investing in my view!