RE:RE:RE:brief musingsSvengali (JH)has managed to fool the Voting Trust for years and that speaks to the intelligence of the members.. Hard to understand why they have stood back and watched their fortunes dissipate from more than $425 million to $21 million as of today. They should all be collectively sick or enraged at the gross mismanagement of their fortune (a 95% loss) with no sign of any relief. Who sits back and watches this happen?
No retail B shareholders will support the Voting Trust as the leadership has no coherent plan or strategy to create value. Fairfax has an operating plan otherwise they wouldn't have purchased 27.4% of the B shares. The problem they clearly hadn't fully anticipated was how to wrestle control from Svengali. They probably thought a reasonably generous offer with some provisions to protect the Atkinson Principles would seal the deal. A mistake to assume you were dealing with a rational decision-maker.
As for the movie concept - MobyDick might be what the Voting Trust ends up with if they don't start acting in their best interests and Captain Ahab (Prem Watsa) at this stage is their only salvation. Opening in theatres across the GTA...