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Alias Born | 09/16/2012 |
Thursday, June 21, 2018 10:16:08 PM
I spent ten years on another board expressing my concerns on governance, fiduciary duty, financial structure, and IP issues. The Rose colored glasses gang there hated me and deleted my messages, convinced others to ignore my post, and eventually banned me altogether. So I moved to Yahoo to carry on.
Well, turned out most all of my concerns were valid and shareholders lost just about everything to an unscrupulous crew. The firm who eventually took things over wrote a scathing report on the old leadership and pretty much gave the worthless IP away, but only after they had spent $500 million, much of it gone to salaries and bonuses over the years.
Funny thing is even with all that, the Hubbers there never allowed me back on that board while refusing to mention my name or give me any kind of proper nod.
So I know there's a lot of boiler room types on these boards, mindlessly pumping away for whatever reason. But putting that aside, remember that real investor can naturally fall into 'group think', which can be equally destructive to your wallet.
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