I have been thinking more and more about the $CAMB.LN outcome in the context of my own investment, but more in terms of what I want my Fintwit contribution to be.
Connor is a friend and a great advocate for minorities in situations like this, but there is more to be done.
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Connor is a friend and a great advocate for minorities in situations like this, but there is more to be done.
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https://twitter.com/AltaFoxCapital/status/1439845879272427520
If I think about what 'went wrong' w/ how Cambria turned out, clearly we had a conflicted and complicit board; an avaricious CEO; a weak regulatory framework; and a feckless institutional shareholder group.
But I prob could have, and should have, done more personally.
But I prob could have, and should have, done more personally.
The main issue was trading liquidity was near zero - meaning both inability to build a blocking stake, and presenting huge headaches post-deal.
Nevertheless the solution would have been to more actively bid some of those same disinterested instos who just intended to tender.
Nevertheless the solution would have been to more actively bid some of those same disinterested instos who just intended to tender.
Looking back on how it turned out, I now realize something like $5mm could have completely changed the outcome - to the benefit of all minorities. It's sad to realize how small an amount it would have taken. ππ
I am fortunate to have built something of a (niche) platform here, over many, many years, and in retrospect this is an amount I could have 'crowdsourced' in all likelihood. In fact I'm still not sure why it didn't occur to me sooner...but it didn't π
So this is both a call to arms, and a bit of an 'ask': if you have a special situation, anywhere in the developed or semi-develped world, where minorities are being egregiously abused, please bring it to my attention - ideally ASAP. Time is critical in most of these situations
I can't promise I'll be able to help, or even get involved in every deal (there's only 24hrs in a day) - but I want to add value in the right way where I can.
I think the $HDG.NA case is a perfect example of the power of a platform, and considered 'minority activism.'
I think the $HDG.NA case is a perfect example of the power of a platform, and considered 'minority activism.'
Clearly in that case, it was very much a win-win for all shareholders, and I like to think I added a decent amount of value through my approach.
I want to continue to undertake these kinds of cases. If you can help me in this mission, just let me know as soon as you can ππ
I want to continue to undertake these kinds of cases. If you can help me in this mission, just let me know as soon as you can ππ
Maybe together, we can turn the next one from a $CAMB.LN into an $HDG.NA...
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