Forum Topics FND FND Post from mohnish

Pinned straw:

Added 2 months ago

Pretty interesting post by the old vice chairman on hotcopper. Really making me reconsider my position, especially after all the delays in giving guidance already.

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jcmleng
Added 2 months ago

Ooh, looks like I dodged a bullet here ... I had a cursory look earlier this year but could not immediately clearly understand what was happening with all the corporate actions. Watched it for a bit, then the downgrades occurred and lost interest.

Very interesting to see the FND bullishness of the 2 analysts on Ausbiz from back in July ...!

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Noddy74
Added 2 months ago

Other than it being an ex-board member blowing the whistle I can't say I'm hugely surprised. I've previously shared my thoughts in regard to the current Chairman, some of which you will find in the link below:

https://strawman.com/forums/topic/7915#post-22094

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Jimmy
Added 2 months ago

@dave665 WOW!!!....I held a smallish position some time ago but haven't re-visited since selling until your post.

I recall a few SM members here warning or perhaps voicing concern when they knew Nicholas Smedley was involved so it'll be interesting to see their trading & guidance update later this month....best of luck

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Wini
Added 2 months ago

@dave665 I had FND come up on The Call for Ausbiz a few months ago and had some lovely folks push back on me saying it was a sell. It hasn't passed the sniff test for me for a long time, ever since they were able to buy what seems like an amazing asset for an absolute pittance from Indian private equity partners.

The capital structure is a mess (and doesn't reflect a profitable business that it claims to be) and they missed guidance substantially last year if not for some accounting adjustments.

https://ausbiz.com.au/media/stock-of-the-day-findi-fnd?videoId=42131

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BkrDzn
Added 2 months ago

Is it time for a rebrand from Findi to Fraudi?

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dave665
Added 2 months ago

After buying at 95c, holding all the way through the $8 range and watched it tumble down to where it is today I ended up selling my entire holding. I have been feeling uneasy on the management of Findi for a few months, Guidance not getting released on the date that was given, not giving any indication as to why and then continually delaying it, which I suspect is because the think the market won't like what they release. Smedley going radio silent over this time frame which I thought was quite uncharacteristic of him as he use to be more open in doing quite a few interviews which could be seen on ausbiz/YouTube etc. But then the post in by mohnish showed more about the internal struggles of the company was the last straw for me. Was really hoping to hold to the indian IPO but i guess time will tell if I've made the right choice.

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Jimmy
Added 2 months ago

@dave665 yeah...I saw your SM sale go in. Like you I was keen on these guy's....WAS being the operative word...and especially the IPO as you mentioned. I'm more than comfortable now that I'm out and hope you'll also sleep a little deeper tonight....

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