Tidbits:

Your remarks, as with a number of posts here lately, reflects your low opinion of AUM generally but is lacking in specifics. This exchange with gwr1 provides you with an ideal opportunity to enlighten us with more considered and detailed reasons for your statements. In this one you have, in effect, said that:

AUM is not a "decent company."

No its not, if your definition of a decent company is the same as mine where it turns a profit and provides return on investment for shareholders.

AUM does not have ounces in the ground

Never said that, but the ounces that they have currently can't be mined profitably at this time. Maybe at higher prices?

AUM is not, or cannot be, profitable

Is not profitable yes, could be at some point yes. But damage to shareholder value is so severe and pronounced that imo, we'll never see a recovery to previous levels.

A lot of money has been made "off " AUM, but not by shareholders. I understand this means that management and other insiders have done very well at the expense of shareholders.

Shorters have made a fortune. Yes many many in management have or have had salary and compensation way out of line with performance.

Here is an ideal opportunity for you to give us the benefit of your insights by fleshing out these statements with the factual information and thinking that you applied when you made them.

Much appreciated.

My pleasure.