About the bad news driving down the stock:

I don’t subscribe to the idea a few days’ price action on a stock tells you anything very noteworthy.
As is well known, in the short term, often prices go up on bad news.

Of course, the contrarian proposition is: Everything’s already gone wrong. There’s nothing else left.

So far as the long term, for us, nothing’s happened that makes worse the very consistent logic
we’re all very familiar with already, that is:

The best way to control New Investor Activities is not to have any.
The best way to control the activities of our Business Office is not to have one, in the first place.
The best Business Planning is to make no plans and entertain no plans.
The best Business Management is by way of absentee management.
The best way to keep shareholders loyal is to disregard the returns they receive on their investment,
disregard their inquires, and ignore the common-sense reforms they put forward.

The basic situation we now have is the same unchanging situation we’ve had, year after year.
The vote was for no change. The vote will support that philosophy and benefit those who live by it.
The vote did not make things better. By the same token, it didn’t make things worse either.
Fear not. Without intervention, Peter—with incomparable single-mindedness—will never deviate.