BIG 0.00% $2.22 big un limited

You didn't need to look at the chart to know something was wrong...

  1. 6,488 Posts.
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    You didn't need to look at the chart to know something was wrong with the company. You just needed to look at Richard Evans/Evertz's history to know that he is not the kind of guy you would ever want to do business with. How much lower can you get than impersonating a police officer to try to blackmail someone in a public toilet block?

    He's more like the kind of guy that John Hempton (Bronte Capital) would follow. Hempton likes following what he calls 'scumbags' to find good shorts. Scumbags who head up failed scumbag companies often end up on the board or management team of what often turns out to be (surprise) another scumbag company. And no surprise, as revealed by Shapiro in the AFR... Evans/Evertz had exactly that kind of corporate history of failed business and disgruntled former investors etc.

    Many holders brushed this off far too easily suggesting it was in the past, he's changed, give him a chance etc.... and parked their life savings with someone with that kind of history.

    Incredible.

    When you look back, all the evidence and clues were there, some were alert to it, and got out in time. Others just fell for the good story and could not let go. They just wanted to believe.


    And yes, the regulators are pieces of crap. You can't rely on them, you need to do your own due diligence and always be vigilant.
    Last edited by Sojourner: 13/07/19
 
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