...cut its head off.Share
Absolutely typical...In my view this is why so few fund managers are actually any good.
The AFR quotes a leading fund manager as saying Alan Newman should depart FCL after the companies recent performance.
In my mind this demonstartes the complete lack of understand such a person has for the risks that are known to exist in the venture that Newman runs.
It has exposure to significant impact from climatic conditions - insurance, rural supplies, cattle and fertiliser.
Newman is one of the leading managers in Australai in my opinion - yes, age and cunning DO have a place in management - its the funds sold his stock down - if they want to trade short term then expect the swings and roundabouts.
Despite my words of warning in recent posts don't get me wrong...this is a quality company in my view. All that remains is to pick the entry point and have patience...but it is a quality company WITH Alan Newman running it - take him away and all bets are OFF.
(All imo of course!)
FCL
futuris corporation limited