(By Richard Holway 9.00am Friday 4th September 09) Further to my post yesterday afternoon - Jon Moulton resigns from Alchemy - the papers this morning are wall-to-wall Moulton. Not all of it that complimentary! See FT - Alchemy hit by Moulton's parting shots. I must admit to shock at reading Moulton's letter to investors which the FT describes as "the equivalent of pulling the pin out of a grenade and lobbing it over his shoulder as he walked out the door". Moulton is criticised for "being better known for his media appearances and as a speaker at conferences than for doing eye-catching deals".
I guess the real question now is "What does this mean for Alchemy's remaining investments in the SITS area?" Moulton has always been prepared to ride any dips in the market and only exit when the time was absolutely to his advantage. I suspect Alchemy may now look more favourably at earlier exits from some of these investments which could create opportunties - in particular for management.
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