RE:RE:RE:Goodman responds to letterPandora wrote:
Yes, I especially liked this part:
"The Company has a well-defined strategic plan —regularly reviewed and refined to maximize shareholder value — being facilitated by a leadership team made up of industry professionals with a track record of success. A significant amount of wealth has been created for shareholders through the sustained execution of this plan."
The significant amount of wealth that was created for me totalled $278 after being a shareholder for 2 years and 8 months. Bought in at $7.60 in March of 2016 and finally pulled the plug in November of 2018 at $7.81 after more than once hearing the phrase supposedly stated by Mr. Goodman that this is a stock for your grandchildren.
At my age it could be my great grandchildren. I guess that's one of the hazards of getting old -- you also get a little impatient - especially when it comes to time horizons.
Funny you posted this, cause I stopped reading here "
A significant amount of wealth has been created for shareholders through the sustained execution of this plan.The Company’s total shareholder return has outperformed relative to all indices as well as the Company’s peer group since its IPO. I think some context is in order because this is being spun to suit Mr. Goodman's false narrative.
Every single shareholder who bought exactly 3 years ago and still holds is sitting on a return of about........2%.
Everyone who bought exactly 2 years ago (ME!) who is still holding is DOWN anywhere from 23-30%.
Anyone who bought the last bought deal 2 years ago, the biggest one to date is DOWN 25%
He is basically using a price point that ex-Palladin shareholders were issued shares at, under $4.00. The stock had a one month return of over 100% in 2014. Anyone who bought 1 month after the IPO is sitting on a measy total of 10%.
So in other words, that line only applies to old Palladin shareholders. This stock has been in almost exclusively $7.00-$10.00 range since early 2015. Four years of almost no returns.
How anyone can say this is a great performer is delusional. It's even worse if he actually believes this spin because in his mind the stock is doing great and shareholders should be happy. So why should I believe what is contained in the rest of the rebuttal? JRG has had a good run, do the honurable thing and step down.