I have been following the Fenway exchange on this site. Obviously some of the writers are brokers who recommended the stock, and use this forum to provide information to justify that recommendation or, at worst, to obtain new clients for themselves. That's understandable!
I had followed the advise of a broker friend and bought shares in Fenway at less than C$3.
I have recommended it to friends. So I have an emotional and financial attachment. All my friends who followed my recommendation understood I had a position in the stock and therefore I would benefit indirectly (I'm not a broker) by their purchases. Like you I have lots of time on my hand and try to follow the news releases, both positive and negative on Fenway. While I may be wrong this time, ( I have both successes and failures in my history) my friends will know I was sincere and not have any ulterior motive. I pray that I and my friends will do well with Fenway. That's understandable!
You state that you have no financial interest in Fenway, and are just interested in the truth. With your pointedly negative assessment of Fenway and its management , you must admit that you are fostering the strategy of selling Fenway short. Had I and my friends followed your assessment of Fenway and shorted the stock we would now find ourselves with a major problem. I would have to do all that I could to allow my friends and me to cut our losses. That's understandable! Does it bother you that people who would have followed your advice, at the very least, would have lost out on a "great" investment, or at worst, have a major potential losses from a short position?
Your knowledge (and resources to knowledge) of Fenway, Palawan , Philippine Regulations etc. are indeed remarkable for a casual observer. But as you state, some people might call certain information misleading! Your opinion of Fenway is obvious, and may or not be correct. Put their feet to the fire, and get them to answer your concerns! I'm sure you have their phone number.
But are they the best source?
When I first invested in Fenway I recognized a high degree of speculation but had a better opinion of the management. Today I feel you would have to admit the situation is very different. With your obvious knowledge base, what can you tell me about STRADAC, AIA, and AIG? If you accept that they will have 60% of the project, than they become key players in obtaining necessary acceptance of the project. Do they have a requirement for the cement? What of their management? What history do they have in the far East? It strikes me that Fenway is a minority partner, and that we now need to evaluate those majority partners. I would appreciate your help in understanding their role and potential influence in the success of the project. If you can objectively state that you hold them in equal or less esteem , then I will have to consider it is time for me and my friends to take our profits now. If , however, you find that the chances for success has improved with their role, than you may want to join those of us who look for additional profits if and when the $375,000,000 (USA) is obtained! It would be understandable!
A Happy, Healthy, Profitable New Year to All. |
