Originally Posted by
Beagle
Regret's...I certainly have a few. At first I was a little bit miffed to be stirred from my lengthy slumber in my kennel today but its certainly given me more clarity as its actually really useful for you to post my pre-IPO thoughts because to be honest I'd forgotten how many reservations I had right from the outset. Somewhere along the way I lost my way and allowed myself to get sucked into the hype / vortex or was it the charm of Earl and his presentation at the Auckland shareholders association meeting years ago ?, or maybe a combination of all of these things ?... not really sure what it was but I made the mistake of thinking a new experimental business plan of trying to make serious money out of care might prove more profitable than the well proven independent living focused business plan of the likes of SUM. I should of known that no matter how you slice and dice it there's very little money in care.
I think its perfectly clear that SUM's very well proven business model is far superior and its fanciful to suggest this will ever trade on the same metrics as a company that has proven they can grow earnings in such an impressive way as SUM, 10 year CAGR of 33% speaks for itself. Is there any other company on the NZX that comes close to that ? The only question left for me to address is when is the right time to fix my mistake and get out of this and back into SUM ? The share price is currently so weak I don't think this is the right time...or maybe the sooner the better...I really don't know.