$Real Goods Solar (RGSE)$ 我是被股市扭曲出奇怪的幽默感了么？重新读了一遍这货最新file的PRE 14A，里面说自从2008年以来，给员工的股权激励一共有-------令人叹为观止的-------205股-------a whopping 205 shares!-----依旧笑得几乎想要像翻着肚皮的加菲猫一样。

其实最近原本不想写RGSE，因为没有任何值得更新的变化。成年人的世界里没有童话，想要有收获就应付出努力。投资的心理压力、大量的阅读和细致的观察、反复的斟酌思考，原本应该是每个人的必修功课。

不过今天既然有人问起，所以还是写一点点的更新：RGSE上周的filing。其实这个更新，原本是每个人持仓RGSE的投资人都应该自己做的-----投了这样一家公司，连Filing都懒得读么？

RGSE的员工激励政策每年都重新修订，但是都是跟着每年的股东大会一起走的例行公事。而且我翻看了2015和2016年的股东大会议案，里面员工激励政策修订部分的言辞也是例行公事。而今年是不同的。6月2号的特别股东会，并不是每年秋天的例行股东会，而是专门为了投票这个员工激励政策的。而这一次专门开股东会修订员工激励政策，Filing里面出现了一段从未有过的诚恳言辞：

Equity awards have been historically and, we believe, will continue to be, an important component of our overall compensation program for all of our employees and directors. As described above, after our January 25, 2017 reverse stock split, only an insignificant number of shares of Class A common stock are available for issuance under the Incentive Plan. We believe it is important for our long-term success that the interests of our employees and directors are tied to our success as “owners” of our business. We believe that our Incentive Plan can build shareholder value by attracting and retaining talented employees and directors. In some circumstances we may also grant equity awards to consultants to provide incentives for such consultants to exert maximum efforts for our success. Since 2015, we have been unable to use equity awards as a meaningful component of our compensation program because, among other things, our reverse stock splits consummated during that time-period substantially reduced the number of shares authorized for issuance and the number of shares that a participant may receive in a fiscal year. We believe we must begin to offer a more competitive equity compensation packages in order to retain and motivate the talent necessary for our continued growth and success. We carefully monitor the equity compensation and equity holdings of our employees, directors and consultants as well as the type of equity awards we grant to ensure these awards continue to provide incentives for the recipients to work towards our success. Traditionally, stock options have been the primary focus of our equity program. The potential value of stock options is realized only if our share price increases, and so stock options provide a strong incentive for individuals to work to build shareholder value and are most attractive to individuals who share our objectives and goals. Approval of Proposal 1 will allow us to grant stock options and other equity awards at levels we determine to be appropriate in order to attract new employees and directors, retain our existing employees and directors and to provide incentives for such persons to exert maximum efforts for our success and ultimately increase stockholder value.

所以，挣扎了三年之后，RGSE真的是要turnaround了，一切都在走向正轨...... 当然，这个判断并不是lead to “必然性”的逻辑，只不过是某种“见微知著”的直觉。直觉通常是不可靠的，我的判断也不一定就会是正确的。只不过在RGSE这里，所有的细微的点滴的信息，无论是逻辑还是直觉，无论基本面还是盘口，都没有任何矛盾之处地指向同一个结论：一场成功的Turnaround。所以，正确的概率总应该大一些吧？