What would you feel if you went into a convenient store to buy a pack of cigarette for P100. Then after a while someone dressed in suit walked in and bought a pack for P75? What's even more insulting is that, he wants to buy your pack of cigarette for P75. And you have no choice when a gun is pointing at your head. Will you be pissed?
Of course... I'll totally be pissed. I bought the product at a regular price and someone dressed in a suit just walked in an bought at 25% discount? And he also wants to get what I bought, making me lose 25%.
This is what happens to PGOLD. I love this company... Used to... I think the business model is great. But the managers are sooooo greedy. I unloaded all my shares. I did plan to hold on it forever but I don't want to do business with greedy bastards like that.
When managers are awarded with stocks at discounted price. That price is shouldered by the common shareholders. When they bought the stocks you can see their portfolio already up by 25%. They can sell at anytime. 25% profit is already huge. But at the cost of diminishing the value of the shares kept by the common holders.
Puregold, I think you have a great business. But you're not a good business partner. Why make my investment less valuable just to pay your managers?
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