Go for it.
You will have no buying competition from me.!!….
I am leaving the field wide open for others.
My don't buy list includes all the usual suspects.;FBU,MGL,MPG,MVN,and STU.
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Hah, that's right, more buying opportunity coming up!
Actually, the SP has gone south from 87 cents on very little volume over the last week or so. It looked like there was some attempt to drive the price down with large blocks of shares placed at 88 and 89 cents and with such low activity on the buy side it seemed obvious that there was little chance of selling. To inexperienced me it looked like an attempt to cap the price and make any sellers capitulate and drive the price lower. To bring the sp back up would only take a very small volume of sales. Admittedly, there's no queue of people lining up to buy.
Sarcasm aside, if it drops much lower I will actually pick up some more. It's concerning that there are potentially still some very weak hands holding. It seems like many small holders have been looking to get shot of these for a while but were waiting until after the July dividend.
BP, as a former proponent of MPG what are your feelings at present? What's fair value in your opinion?
Hard to say - give me a crystal ball which works!
If we allow for a cyclical like MPG a PE of 10 and forget any growth potential, than fair value would be around $1.
While the current mass liquidation wave in the building industry is not good for anybody, do I not think either that they damage MPG long term (though some ripple are possible). The projects will still need to be finished and whoever owns the buildings (this is not the contractor) will need to pay for the windows.
Personally I think they are an "accumulate" below 90 cents, but sure - they ain't a Zulu company :).
Yep my worst performing share atm, sitting on solid red arrow :( was holding for the divvy then planning to get out but I appear to still be holding
Not in the actual building & construction of buildings and projects but for the duopoly suppliers in building materials, industry consolidation has been hugely profitable!
In fact, FBU would be gone but for its building material and residential development divisions!
Finally got a new ceo
Think he’ll pass the percy test coming from trutest (think that’s one of percy’s fav)
http://nzx-prod-s7fsd7f98s.s3-websit...641/285055.pdf