2024 AGM

[Sir Why You Little 37,239]

I managed 12 minutes of that Q & A. The first question was bad enough, but i thought it might improve. It didn’t. 
 

How about “How’s the vibe in the Football Department since Chunk returned?
How is the forward connection changing with Chaplin now in charge of the forwards?

 

[BKKBooga 27]

Wow some of those  questions were straight out of Monty python.   Others were shockers.

All kudos to Brad Green, thrust into the limelight and holds himself pretty well.  His heart is in the right place, and he patiently answered those awkward questions.

[BC_1718_DC 1,466]

The fella who got to the microphone who began to address Darren Shand on stage saying what a great addition he is to the club and how vital he will be for the future when it in fact was not Darren Shand at all was another highlight of the question and answer section. 

[DeeZone 10,207]

6 hours ago, Harvey Wallbanger said:

My understanding is that would be like a regular Balanced superannuation fund portfolio that many of us have (a mixture of fixed interest, equities, etc..,) hence a bad year to 31 October 2023, but a good one to 31 October 2024. It's run by Morgan Stanley. What about a bit of transparency? Just let the members know what the investment guidelines are and give us quarterly updates on the performance. I mean if the Club goes bankrupt (unlikley) we all have to tip in $5 each - how hard it is to let us know how our "nest egg"is going;  more often than once a year.

Is that you Demon Hawk, just let it go, no point beating a dead horse.😁👍

[Demon17 5,208]

17 hours ago, Harvey Wallbanger said:

My understanding is that would be like a regular Balanced superannuation fund portfolio that many of us have (a mixture of fixed interest, equities, etc..,) hence a bad year to 31 October 2023, but a good one to 31 October 2024. It's run by Morgan Stanley. What about a bit of transparency? Just let the members know what the investment guidelines are and give us quarterly updates on the performance. I mean if the Club goes bankrupt (unlikley) we all have to tip in $5 each - how hard it is to let us know how our "nest egg"is going;  more often than once a year.

That's what the agm is for. Sheesh.

I'd give the members nothing on investment  strategy. Based on the questions at the agm there was pretty much none I would trust in decision making or even investment  opinions. 

It's the process and risk management that's important for us Dee's. Let the Board and subcommittee do their job.

 

[DistrACTION Jackson 9,547]

19 hours ago, Harvey Wallbanger said:

My understanding is that would be like a regular Balanced superannuation fund portfolio that many of us have (a mixture of fixed interest, equities, etc..,) hence a bad year to 31 October 2023, but a good one to 31 October 2024. It's run by Morgan Stanley. What about a bit of transparency? Just let the members know what the investment guidelines are and give us quarterly updates on the performance. I mean if the Club goes bankrupt (unlikley) we all have to tip in $5 each - how hard it is to let us know how our "nest egg"is going;  more often than once a year.

I’d be very surprised if the whole fund was invested in a balanced portfolio. There is probably a portion of it that is invested in a managed fund or direct shares though. It would be great to know what they are invested in, but the majority of members probably wouldn’t understand what it all means so they probably don’t see the point… I’d be very interested personally but I have a background in that industry.

[george_on_the_outer 7,809]

30 minutes ago, DistrACTION Jackson said:

I’d be very surprised if the whole fund was invested in a balanced portfolio. There is probably a portion of it that is invested in a managed fund or direct shares though. It would be great to know what they are invested in, but the majority of members probably wouldn’t understand what it all means so they probably don’t see the point… I’d be very interested personally but I have a background in that industry.

I had asked exactly that at the 2023 AGM...and nobody could tell me, least of all the Board members.  MS has multiple types of funds, so why not tell us which one it is in? For $20M the best we could gain access to would be a pooled trust.  Most decent managers don't accept anything less than $US100M for an individual mandate. 

Edited December 20, 2024 by george_on_the_outer

[DistrACTION Jackson 9,547]

5 minutes ago, george_on_the_outer said:

I had asked exactly that at the 2023 AGM...and nobody could tell me, least of all the Board members.  MS has multiple types of funds, so why not tell us which one it is in? For $20M the best we could gain access to would be a pooled trust.  Most decent managers don't accept anything less than $US100M for an individual mandate. 

That’s not correct. We managed some high net investors and would often place investments ranging from $100k to multi millions in unlisted investments. In Australia to gain access to these investments you need to have either an annual income of $250k or net investment assets of over $1m. Given the MFC is essentially a corporate entity with over $20m of investment assets they would absolutely have access to these types of investments. It would be dependant on the investment mandate of the club’s investment trust as to what they can or can’t invest in.

[Adam The God 30,539]

Anything about diversification of investments outside of football? Being tied to football outcomes is not very sensible, despite that being the core business of the organisation.

We will have lean patches on the field, and having investments that are non-football tied would be a smart strategy.

And no, I'm not talking about gambling revenue. We can still be a responsible corporate, but diversify our assets across different sectors, and not just rely on the share market or bond market. 

I hope we're thinking about ways to replace the pokies revenue without resorting to merely calling high net worth members to tip in each year.

That's certainly one strategy, but it shouldn't be the top of list.

Edited December 21, 2024 by Adam The God

[picket fence 17,727]

On 20/12/2024 at 07:59, Roger Mellie said:

Did Chris from Camberwell ask a question?

Probably more than just 1!

[Great Sage 127]

Put it all on the Dee's to make finals next year. We will triple our money😜.

[Cranky Franky 2,140]

On 23/12/2024 at 19:56, Great Sage said:

Put it all on the Dee's to make finals next year. We will triple our money😜.

👍👍👍

[pitmaster 3,583]

On 19/12/2024 at 14:17, BC_1718_DC said:

https://www.melbournefc.com.au/video/1705616/agm-question-answers?videoId=1705616&modal=true&type=video

 

Here is the link for the Q and A. Interesting watch to put it politely. 

Honestly, that first question [censored] conspiracy theory was a ripper. Does that questioner seriously think there are no MFC members working at the Herald-Sun who could have provided Jay Clark with Brad Green's letters?

Think about it: you're Jay Clark and you do a lot of reporting on the MFC, and you know Charlie Stringbag who works as a sub on the foreign desk is a rabid Dees fan. So you politely ask Charlie to let you know about any messages that are flying around on matters of interest. Chasing a story, that's why they are called newshounds.

I am sure the implication that the board leaked its own messages could be true, but having worked in the media for decades I also know there are plenty of ways for information to spill out.

Thanks for the link but I gave up not long after. I might take a deep breath and have another crack, but the cricket will need to be very boring before that happens.

[whatwhat say what 23,060]

34 minutes ago, pitmaster said:

Honestly, that first question [censored] conspiracy theory was a ripper. Does that questioner seriously think there are no MFC members working at the Herald-Sun who could have provided Jay Clark with Brad Green's letters?

Think about it: you're Jay Clark and you do a lot of reporting on the MFC, and you know Charlie Stringbag who works as a sub on the foreign desk is a rabid Dees fan. So you politely ask Charlie to let you know about any messages that are flying around on matters of interest. Chasing a story, that's why they are called newshounds.

I am sure the implication that the board leaked its own messages could be true, but having worked in the media for decades I also know there are plenty of ways for information to spill out.

Thanks for the link but I gave up not long after. I might take a deep breath and have another crack, but the cricket will need to be very boring before that happens.

half the press corp are members of clubs for this exact reason - no need to ask charlie stringbag for the email when it lands in yr own

[Sir Why You Little 37,239]

7 hours ago, whatwhat say what said:

half the press corp are members of clubs for this exact reason - no need to ask charlie stringbag for the email when it lands in yr own

Most of it comes from Player Management. 
They hear most things very quickly….