RE: very happy to have repositionedI think the big problem with Aber is the lack of transparency by Management. They keep talking about returning value to shareholders but it certainly isn't through capital gains (talking the last four years) or via the dividend as investors should have done better during this commodities bull market. Who really knows what they plan to do with the cash. I believe this uncertainty is making even long time investors nervous about parking their money with them. Didn't the Harry Winston thing come out of left field. My initial investment with Aber had nothing to do with investing in the retail sector. What else do they plan to buy. Are we going to acquire an advertising firm to push the HW stuff, take over a competitor, buy another mine, get into uranium - just as long as we keep burning a hole in our pocket to keep Management happy and make it look like they are doing something to earn their inflated slaries. Anyone contemplating an investment in this company would probably be turned off once they look at a five year chart of the stock price and conclude that something must be wrong with the company. Why bother to delve any further into something that has failed to perform when times were good. I also have concerns about the eventual drop in diamonds from Diavik and the effects of global warming on the winter road in the years to come. I am sure others have similar concerns.
Bottom line is that I am not happy with the returns I am getting and because Aber represents a sizeable portion of my portfolio, I intend to pare it down somewhat. I will not sell all my shares as I still have some hope that things will turn around some day - maybe Ganicott will eventually step down or at least shut his pie hole about returning shareholder value.