Sequoia Financial Group Limited

ASX:SEQ

Sequoia Financial Group Limited

ASX:SEQ
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$0.380 (+2.7%)
Last close price
#222
Rank
5
Held by
22
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Reports (8) My Report Forum Investors
Forum Topics SEQ SEQ A 249D Stick Up!

Pinned straw:
PortfolioPlus
Added 7 months ago

Get your deckchair & popcorn to watch the action over at SEQ.

A 249D action likely to get up, but not without an ugly stoush, with ASIC now involved.

Chair resigning to the back benches, then resigning totally. Key staff frog marched out of the office.This one has got it all.

A likeable, but highly promotional CEO (that's code for big promises & vision, though shallow to low execution) to get rolled by good old shareholder apathy. When you only need 50.1% of voters, a highly organized shareholder group can succeed. Goodness knows what they are going to do about filling the CEO role.

Got to be spooking all their licensees and advisers. Have been a holder in the past - happy to watch the firecrackers go off. SP likely to fall.

thunderhead
Added 7 months ago

Looks like there were no clear winners from today's results. Well, maybe GC by a hair, though he has a lot of work to do to restore confidence and pick the loose threads from this whole affair up.

I bailed just prior given all the uncertainty and distraction, locking in a capital loss (though came out ahead if you include dividends). I had opportunities to sell near the 52w highs, but was too slow to the trigger. Oh well...

7
PortfolioPlus
Added 7 months ago

You must have been reading my game plan Thunderhead and I have exactly your outcome as well. But don’t regret the move as it was the safe play in a murky situation. Had GC have been rolled, SEQ would have collapsed into the thirties.

The more difficult decision is whether to get back in. The 6c ff dividend is attractive, but I am going to wait and see what damage has been done to the brand and whether a chastened GC will practice more disciplined and focused management. If I had Buffett sitting on my shoulder, I’m sure I know what his advice would be, given his strong conviction on management.

so I will wait and see what the market does. There could be considerable shares off loaded by the losing side - will they take their medicine on those additional 7m shares acquired above the current SP?

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