Paul Barry’s frank account of the goings on at Allco (‘Coe & Co.’, May) and all its spin-offs is yet another reminder that too much of the current style of stockbroker forecasting and market analysis is focused on the business alone and its technicalities. The reality is that managed investment funds, not to mention the mums and dads, don’t invest in companies per se but in the people who run them. The world is full of talented accountants and lawyers, and being a board member would be a no-brainer for many from the business world. Sadly, Allco is another glaring example of where incompetence and greed was at the helm at the expense of the naive.

Howard Walter
Templestowe, Vic