TO ALL OWNERS OF FAMH ONLY: PLEASE READ THIS!
I very infrequently post on the SI because I see little point in discussing the pros & cons of my investments with many of the losers on the threads. However, since it is a holiday weekend and I had the time to look at what's been said recently, I decided to poke my nose back in and make a comment.
As you can tell from my alias, I am a DGIV investor and have been since the company was founded. I am not one of those Rocketeers and I am not one of the lunatic fringe that follows the Rocketeer bandwagon. I am an independent investor who does not follow anyone's advice except my own. I am part of an investment syndicate and we work together with the purpose of increasing our shareholder value in a company.
The commentary I am going to make is intended solely for the real FAMH family members who own our company and intend to stay as owners. I wish there was a way I could filter out those on the thread who for whatever their purpose is, don't own FAMH stock but continue to spend countless hours bashing it and discouraging shareholders through a relentless campaign of negativism, innuendos, half-truths, and sometimes outright lies. Their unending negative campaigns against our company amounts to nothing more than an attack on my person since they are bashing my company and my family's future security in our investment. This said, I decided to speak up.
I do own a large quantity of dgiv shares. I also own a large quantity of FAMH- to be exact- 550,000 shares. As many of you, I have also been dismayed in the past over some of the antics of FAMH and its management and the concommitant drop in share price. Also like many of you I paid significantly more than the current share price although I have been buying in since the drop as well.
So, here's my spin on FAMH for what's it's worth. At least you're hearing it from a guy who has been a VERY LONG term FAMH investor and who owns a sizeable number of shares.
1. I believe in our company.
2. I believe in what they are doing and anticipate to do to increase shareholder value.
3. I am in agreement with many that Ira was a loser and the company needed to get rid of him.
4. There may be some legitimate concerns about Arif as well but I think he does want to build the company and to erase the mistakes of the past and this is clearly indicated by the new management team he ans the B of D's has put in place.
5. The new management team that, operationally, will run the company are not Arif's stooges. They are professional business people with outstanding backgrounds who will quit the second they are not allowed to run the company the way they see fit.
6. Mistakes have clearly been made in the past and I'm afraid will continue to be made. I don't know of any company or person who doesn't make mistakes.
7. The MDS was a mistake. The company realizes it and has decided not to move forward on this venture. They rightfully have decided to concentrate on their core business- employment.
8. Despite public opinion to the contrary, I have not lost one bit of faith in the future of Firamada.
9. The Internet, while serving as one of the few sources of information on bulletin board stocks, unfortunately, contains low quality information and content at best, rumor, speculation, sometimes just out-and-out ignorance. Sadly, many people believe the nonsense on these threads as gospel. They make investment decisions to buy or sell based on innuendo, hypotheticals, and baseless speculation by people they don't even know and do not know what their purpose is.
10. Personally, I find the conference calls an outstanding tool to disseminate accurate information to the public. You may not always like what you hear (eg. the NY shambles) but at least its forthright and from the source. I ask you this question: How many other companies in the world, big or small, are willing to face investor questions in a public forum on a weekly basis. This is quite unique and quite outstanding. Most companies would just avoid the negatives but FAMH is trying to put forth its best effort to establish the fact that yes there have been problems and yes here's what we're doing to try to fix them. Do they have all the answers today? Of course not. But I believe they're trying and I believe they're going to be successful.
11. I don't know what more anyone can ask but that the management team from a sales, marketing, and financial standpoint is addressing the issues in front of them and they have clearly set strategies and action plans in place to move the business forward. I am a professional businessman (having worked for three of the largest companies in the world), a college professor of marketing, a law school graduate, an MBA holder, and a past State Trooper. This said, I am and I remain confident that FAMH is acting in good faith and will move to correct the ills of the past and build a solid future for the company and it's shareholders.
12. From where I stand, this is just a bulletin board company and I don't expect it to be IBM. But, I am satisfied and I congratulate the top management team for developing and outling what appears to be an outstanding strategic plan for long-term growth of revenues, profits, and ultimately shareholder value. I can't ask for anything more.
13. Although I believe FAMH management should be responsive to us shareholders, I believe the proof is the pudding. Actions mean more than words. So, I want to see them acting on their strategies and moving the company forward over the next several years. I have suggested to them that while they need to be responsive, they also need to put their noses to the grindstone, identify the problems and opportunities, set their objectives, strategies, and tactics, and then follow through on them to build shareholder value over time. I'm more concerned about that than about whether or not you or me like what they say or don't say. I'm not in this for worthless babble or chatter. I'm here to make money and I intend to with FAMH and my other investments. So, I'm for building the company not responding to every nitpicking shareholder who doesn't know anything about the company and what it's doing. Many of you must be great Monday morning quarterbacks. You're just great at second guessing every move they make. I often wonder how many of you have run a multimillion dollar business?
My personal advice to each of you for the holiday weekend is to stop paying attention to people who don't even own our company and for some unknown and bizarre reason (perhaps know only to them) continue to bash and denigrate our company. For all you people who actually own our company, stop worrying so much. All is going to work out in the long run. If you were looking for an instant loterry winner, FAMH is not going to be it. Sell out if you fall into this category. But if you're looking for a solid, slow, long-term growth winner, I think you found the right place. All I can say is you got to have patience if you want to make money. The big jackpots are few and very far between.
I wish all you long-term FAMH'ers the best of luck and hope you all hang in there. I am.
PS The only advice I can give to anyone who doesn't like the company, it's management, or what they're doing, sell your stock. Even if you take a loss, it's better than staying invested in something that you think is going to get even worse or that you don't feel comfortable with. There's thousands of other investments you can put your money in. I guess what I am saying is: There is no magic wand to correct everything from the past and make it all nice and wonderful overnight. It takes time. Because of this, our share price is not going anywhere in the near future. That's the reality and you either have to face it or get out. Complaining, bitching, and badmouthing everything is NOT going to fix anything but create more anxiety, fear, distrust, and investor uneasiness. |
