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07:50
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Originally posted by Mauro
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I'm not encouraging selling... my sentiments say sell... whether I sell or not is a different story, if others sell it's not because of my sentiment...there has been massive selling as witnessed over a few days. I just missed out selling around $2.80.... there have been many issues on how this company has been managed and stuff ups along the way.. if you go through it you will find it. First of all this company started as a Maquarie Bank vehicle and they sold it...just a few things... when they got into the gyms businesses there were issues on how they treated the incumbent staff, a lot of them left and started their own gyms with customers following them...guess what revenue went down... then there was the 24hour access gyms that took market share away from them ... they were asleep at the wheel and only took action once revenue slumped by over 20%...these are 2 errors... then they had to spend more money and management effort/focus to try turn it around... and neglected other parts of the business..now you will say they just sold it and made a profit well it was by fluke and not by design... private equity identified that they could do a much better job and paid a bit more they were also buying other gym businesses and will make a healthy profit in the future...now AAD are trying to spin that they are a pure leisure company... so their original strategy was wrong... bowling division- underperformed for many years, they also have been closing them down as they have some duds...it's improved but still relatively not done that great.... Main Event - they keep saying it's the growth business... year on year revenue/margins keep declining the last 2 or more half reports they keep saying how they are going to fix/turn this around... well they haven't and they spun the same BS again...Dreamworld over the years has had its issues and underperformed ... it is yet to be seen but it would not surprise me if the investigation uncovers issues that have consequences... the way they handled the whole incident was amateur and appalling ... I have had my say... if it was such a well run company and management are so great then why is the share price at $1.67??? I will change my sentiment so that the selling stops
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You've gone through about 10 years of AADs history Mauro where you think management made one mistake after another. The fact you are still a holder after having such a negative view for such a long time doesn't say much about you as an investor. You have no business holding shares in this company. There are 100s of others to choose from.
