Strange things happening
Ok, so Northern Rivers is now buying through Citigroup as WELL as TD Waterhouse. Citigroup is Privinvest's broker of choice. Last week, NR sold 130,500 shares thru CG to a CG client...Privinvest...??? Hmmmm...
And the news announcement this AM...about possible inventory miscalculation. I have 3 thoughts here:
1. after investing in VSI for over 8 years, I will say that VSI management's focus is on building and running a profitable business; they are less shareholder-oriented than any firm I have ever invested in. That doesn't mean they are not shareholder oriented, it just means that they have chosen to put their energies into rapid growth. And really, that's the way it should be...if the business is profitable and well run, shareholders win. However, the lack of promotion has led a highly profitable business with exploding sales levels to sit under the radar of the market.
2. my lengthy experience with them has led me to believe that they are honest and straightforward, even at times to their own detriment. So if in fact, there has been an error, this is the type of action I would expect from them. It takes guts to make a statement like this.
3. However, there is a small voice within me that wonders if there is something else happening, and this is perhaps the perfect stalling tactic?
The plot thickens.....!
Gladys7