The departure or otherwise of leading company figures were enough to really push some stocks around at the end of a reasonably positive week on the ASX.
The unexpected departure of visionary TPG Telecom (ASX: TPG) founder David Teoh had the biggest impact, sending shares in the big broadband provider down sharply, wiping off almost a billion dollars of market capitalisation as the shares fell 6.7% to $6.41.
While remaining a very private figure, the immediate departure of Mr Teoh after 30 years and his replacement with Hong Kong businessman and long-time board member Canning Fok was a surprise and coincided with the departure from TPG of his son Shane Teoh after he was earlier convicted of assaulting an Uber driver. Read more…..
Chart of the Day
In today’s video I share some clips from one of Ray Dalio’s latest interviews. Ray Dalio, the founder of Bridgewater Associates, sat down for 30 minutes to answer questions at the Goldman Sachs conference and answered questions on a variety of topics including how the average person should invest in 2021.