Why AGMs are Worth Attending
Attending AGMs might feel as a waste of time. By October, when the AGM season kicks in, the focus is already on the new financial year and beyond. Nevertheless, there’s a lot to learn from how directors and managers address shareholders, especially smaller ones. The ability to break down complexity can demonstrate a deep understanding of the business and what’s required for it to prosper. Clear, concise presentations show commitment and care. The way directors answer shareholders’ questions is also worth paying attention to. The best AGM we have attended this year was that of Cardno (CDD). If Crescent’s efforts to ensure that this AGM was of the highest standards are of any guide, the private equity firm has every chance of turning around this struggling business. (VIEW LINK)
MORE ON Equities
Steve began Forager Funds in 2009, and now manages approximately $470m across two funds. Offering a listed Australian Shares Fund (FOR) and an unlisted International Shares Fund, Steve focuses on long-term investing in undervalued companies.