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Magellan Petroleum Corporation Message Board

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  • taffytaft taffytaft Jul 16, 2010 12:28 PM Flag

    At least my horse moves

     

    Thanks for responding. 15k is a goodly holding. My main problem here is that that this stock has been a long time dog plagued by self-serving management and I'm skeptical that anything has really changed. The thing has never earned any more than a pittance and that continues. This is thus a $100 mill cap company with an abysmal development record taking on a $200 mill expansion. That should be considered ridiculous out of hand. But most on this board think everyone should continue to cheer-lead for management. The company is now controlled by an individual from a part of the world where crookedness is the norm and even expected (not that it really isn't in this country now). No doubt that he's going to expand his fortune but I think there's more than a little doubt that we will be rewarded at all.

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    • It might surprise you to know that I agree with pretty much all you've said in this post.

      There are obviously two views of management. You are strong in yours and others are comfortable with theirs. Who's right? Time and results will tell. The time is up to the tolerance of the individual investor, as is the quality of the results versus individual expectations.

      Guess that's where you and I differ. I don't get PO'd when someone embraces a contrary view of management. Though I don't know if my view is right or wrong, it isn't "more right" because it's mine. You have valid points to generalize that management hasn't produced results, but you haven't given sufficient tangible reasons why everyone who currently supports management should be ridiculed.

      Keep up the positive tone. There's no reason that disagreements can't be discussions.

      C-72

 
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