hi barge,
that was a longish 13 year season we passed through with ss. always winter and never christmas, as someone once wrote.
but you have a very different idea of an investor's relationship with management than i do. it isn't the job of investors to be loyal. it is their role to make judgements about the performance of the company and to express those views via their votes and interactions with the board.
13 years without a profit expresses considerable patience. in the end, he was given every possible opportunity to deliver. he did not.
far as i could see, those of us who gradually changed our view from support to opposition did so in plain sight and with a fair amount of notice of our gripes. he chose to continue to operate as before. with an unsafe harbour, empty pipelines, tangential escapades, supply side theories of market engagement, doughnut holes, dilutions, electric sports car sponsorships etc.
i gave him the benefit of the doubt for years. i will do the same with solms. but if he also fails to deliver a return, then of course i will change my attitude, exactly as i did with ss. i certainly am a fair weather friend. as i should be with a person who is paid to perform.
my concern is wave. not its manager. it is early to presume that the winter of our discontent is made glorious summer. but at least the crocuses are coming up.
AI
