By dint of being a Westfield shareholder, I today find myself...

By dint of being a Westfield shareholder, I today find myself being the owner of a relatively immaterial stake in a conceptual - hence, loss-making, to the tune of some $90m pa - technology idea.

Ordinarily, I wouldn't waste any time thinking about it: I would sell such an "orphan" stock immediately.

This one is a bit different: this one has the backing of the Lowy's, with Stephen Lowy being directly involved as OMN's Non-Exec Chair. And he is accompanied by a swathe of impeccably credentialised directors, as well as senior managers.

In fact, I am bold enough to say that there can surely be no other sub-$150m market cap company in existence anywhere in the world that has a set of executives with the calibre of the one with which OMN starts its life as an independent company.

If one was to synthesise an index that divided quality of directors and management by market capitalisation, then I think OMN would have the highest ratio ever.

Basically, with $160m cash in the bank, OMN management have got 18 months to get the business onto a self-sustaining commercial footing.

If they succeed, the company will be valued a great deal more than just $150m.

It will be a fascinating journey to observe.

But I'm undecided if I want to be a mere observer, or if I want to actually get on board for the ride.

As I said, ordinarily it would be a no-brainer; but in this case, the decision is not so straight forward.

,