There has been much coverage in the CI News of one person’s dreams for development in the Cook Islands.
Talk is cheap. Your front page article on Tuesday last week says a landowner (thought by CI News to be in Titikaveka), has signed a memorandum of understanding with Merchants of Paradise. Later in the article it says the landowner would hold 67 per cent of the shares.
Free advice to land owner – get paid up front! 67 per cent of nothing is nothing.
While many investment managers say past performance is not indicative of future results, when it comes to managing companies, past performance is a great indicator of future results. The following will trigger some memories for many: Castaway Resort, Lagoon Lodges, Manea Beach, Manuia Beach, Manea Heights (did I miss anyone?).
And apart from the original owners who sold, the memories of most investors about this will not be good.
Of course this letter is only written to help.
You have been warned.
Tim Fan Too