Sunday, March 30, 2014

New CEO of Mongolia Growth Group addresses shareholders

Link to letter:

I have spent some more time thinking about the appointment of Paul Byrne as the new CEO. After reading the letter to shareholders I have a couple of thoughts. First of all the guy leaves a plumb job to come to UB as he sees the opportunity and compares it to other places that enjoyed huge increases in building and real estate. I also think he has quite a few contacts and he knows people with money and I would expect that he will be able to bring deal flow to MGG. From the sound of the letter he is talking about MGG leading the complete development/re-development of the Central Business District in UB. I also like the fact that he bought $250k worth of stock with his own money. It appears thee will be some time for him to get his sea legs and than I expect a lot of news flow and deals. Hopefully the OT saga gets resolved and FDI begins to pick up later this year. The market has liked the news as the stock has popped nicely. I have been accumulating shares over the last year or so and I will continue as I believe this is one of the best opportunities in the entire world.

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