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L4L Long 4 Life

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New Contributor

What a dissapointing year for L4L, not a single deal done, sub par results from past acquisitions and a share price which has fallen by about one third!

 

I invested in the company largely due to Brian Joffee's reputation as one of the finest businessmen and dealmakers in South Africa. L4L was going to make deals and deliver exceptional returns based on Brians ability to acquire good investments at a good price and to turn these acquisitions around into highly profitable ventures. All we have seen so far is very average performance from the acquisitions and  no acquisitions this financial year at all. Lots of announcements, but largely about allocation of shares to directors and the resignation of key directors. Of the top three 'legends', one is left after eighteen months and no acquisitions this year!

 

I'm really dissapointed.

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Regular Contributor

So at whose feet /what door(s) would you like to lay your disapointment? 

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New Contributor

:) probably my own!

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New Contributor

On reflection, it seems that Brian may not have what it takes to pull this venture off. There is very little investor interaction, there are very few meaningfull announcements other than share issues to himself and directors resigning/selling shares and he simply can't pull off any deals as he did in his earlier years. Their existing portfolio of investments are at best average, the company performance is average and big growth ideas are nowhere to be seen.

 

This was going to be a big growth proposition based on Brians reputation and skillset.

 

He may have lost that window of opportunity where the investment community was watching and willing to back him.

 

So to answer your question posed in 2018, I blame Brian, he launched the venture purely based on his reputation and a growth vision which he has been unable to deliver on. I am not interested in share buy backs, we backed Brian's growth proposition.

 

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Contributor

I'm wearing a pair of their yellow Vilikazi veldskoen as I type.....

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Occasional Contributor

And so have a lot of investors. It took him 20+ years to build Bidvest so what can one expect after 1 year. If you bought because of reputation then I am afraid you will just have to be patient.

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