Capital AllocationIt's interesting to see the evolution of the language used by Jonathan Goodman in Dundee's diclosure docs (like today's NCIB press release). Clearly capital allocation is a high priority and he is talking and acting more and more like a quality capital allocator.
Still room for improvement on capital allocation and related elements (couple ideas below) but I am impressed by the capital allocation decisions Jonathan has made so far.
- Increase insider ownership of stock by requiring the board and executives to own at least a certain number of shares (if insiders aren't willing to buy the stock, why should outsiders?).
- Announce a plan to eliminate dual class share structure. The Board should want to be held accountable by all shareholders...if the board isn't performing, a simple majority should be able to make some changes. This would improve Dundee's shareholder base IMO ( "companies obtain the shareholder constituency that they seek and deserve." - Buffett).