Maybe new shareholders do need a reminder ...As I've mentioned before, Meir was nice enough to show us his last 10 years of revenue growth but was unwilling to show the first 15 years. That was a huge red flag for me as I knew immediately what the first 15 years looked like ... taking Meir 15 years to get to $50M in sales.
Why would he try to pull the wool over our eyes? For what purpose? Why did he want to spend our cash hoard on risky investments? Because it's always easier to roll the die with other people's money. Goodman said - NO WAY ! Not on his watch.
Medison's first 15 years mimicked Paladin's first 12 years ... a very slow growth process until you build up enough momentum - with low cost, high value opportunities. I am betting we get there faster with Paladin 2.0 (Knight) but you've been warned by many here and you've been warned by Goodman in his 2014 video, that he needs time to build it. You have absolutely no excuse if you are still invested. The smart money is likely on accumulation - in my opinion.
I went' to the AGM in 2019 and Meir wouldn't come to answer questions of shareholders. Instead, he sent a lawyer to deliver a useless message and that was it. Meir decided he didn't want to be a part of the discussion. What Meir wanted, was to take risk with our money.
He then decided he wanted to be paid handsomely to leave or he was going to whine like a little baby and make life miserable for management, in order to get his way. He was so mistaken.
Meir tried to take Knight down. He tried to end ROW development and chase the future. He tried everything to sway shareholders - even with the dumbest idea of giving cash back to shareholders ... but it wasn't what most investment dollars wanted. Meir was removed from the Board at that AGM that I went to.
Fighting ROW is useless - Meir proved it. Fighting Goodman is useless. I've said it for years and until Goodman gets less than 99.75% of the annual vote, you can't sway me.
The investor base is solid and will not break from the original plan - no matter how much you wish it. Sure I could be wrong - but I haven't been wrong yet.
"Knight continues to be disappointed by Mr. Jakobsohn’s ongoing attempts to extort Knight’s Board of Directors (the “Board”) into agreeing to a scheme that is not in the best interest of Knight’s shareholders and only advances his own self-serving agenda."
Investors, know what you're buying here.
Know it's going to take time.
Have a plan to deal with that fact - if you're here and if you decided to accumulate.
Oh, and one more thing ... whining is not a plan ... unlike what a few think here. This is part of a portfolio and when you least expect it ... that's probably when is starts contributing to your wealth (In my opinion only).
Cheers Boys and Girls.
: )