Specit, I read through your posts and you are certainly Long. Nam Tai is lucky to have a loyal investor like you.
As one of the posters pointed out, this company is behaving as a founder owned private company. And I like the way another poster referred to Koo's compensation as "hide the pea".
Certainly this stock is mainly an institutional investor play, given no active IR don't see how its gets visibility on the retail side. Many of these inst. investors seeking to get international content in the portfolio or like you looking at the underlying assets.
I also looked at the make up of the board and the fact that P. Kellogg is on it gives some comfort and that he owns 12% of the company - probably a small play for him given he is on the Fortune 100 list. Other board members don't seem to have credibility outside of China or in the US.
However, this whole situation has to give you some doubts as well. Its one thing to have poor results. It is another to question the integrity and competence of the Chairman of the board and top paid Executive of the company. I refer to him like this as obviously he has more power than anyone else even if they call him the CFO - paid 5X more than the CEO.
I am long means I own the stock. I am short means I am short the stock. Oltherwise, I have no position in the stock.
The concept that I am long indicates loyalty is your invention.
As for the ongoing commentary about Koo's expenditures, I again state that the matter is way overblown and a stretch, at best, as an indicator of his corporate movitation.
There are numerous wealthy, eccentric spenders who are captain of the ship. It is the obligation of the BOD to consider these factors and they represent all shareholders.
<Certainly this stock is mainly an institutional investor play, given no active IR don't see how its gets visibility on the retail side.>
You describe a condition which exists in many of the stocks I hold. With high frequency trading platforms accounting for 70-80% of all NYSE trading, many stocks are institutionally owned and retail underserved by IR. Nonetheless, if that is where I find the value, that is where I go.
As for having doubts about my investment in NTE sure I have doubts. In a word, no risk, no gain.
Thanks to all who posted. I was thinking of buying because of their asset value,etc,but have changed my plan. Koo is probably no different than most managements. Most with few exceptions are self serviing. Shareholders are not given bonuses,but everywhere we look there are bonuses be given out to management,even when performance is in the pits. The real cooks are in the high rise offices not on the street.
The company isn't perfect, but the value per share way more than makes up for a little payout to Koo in a couple years, which is a long ways away in the scope of things. I look on this as being a very low risk stock with potentially very high reward because of the asset value and conservative spending...they've done a great job at cost-cutting.