A bucket list is a wish list of things you want to do before you "kick the bucket." Seeing whales in person is at the top of mine.
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I ticked off saving a whale, windsurfing with Orca and huge pods of dolphins, flying fish, frolicking seals, massive schools of kawai and kingfish, all well before I was an OCA shareholder. The thing about a bucket list is actually doing it, before you’re a resident of OCA. 😉
Back on topic. Thanks for pointing out "BL". But my main focus here is PL , YTD, LY and LLY. I am hoping that the next set of statements are clear and do not include any contra accounts for development and MR B and others can clearly see a transparent set of financials.
The dog is exceptionally highly motivated to get his snout really deep into the financial statements. Just as well seeing as they're so complicated.
I am expecting quite significant one-off covid 19 costs and additionally one-off covid 19 reduction in sales of independent living units due to the lockdown, (care suites could still be sold during the lockdown).
Extracting the (hopefully one-off) Covid effect from the already extremely complicated financial statements, staying objective when I have such a substantial shareholding and forming a view on future maintainable underlying profit is not going to be an easy or quick exercise by any stretch of the imagination.
As Winner suggests, a lot is about the long term transformational growth story OCA is on. I'm holding long term so I will be taking a long term view.
Watch with sparkling eyes the whole world around you because the greatest secrets are always hidden in the most unlikely places. Those who don’t believe in magic you will never find it.
Ronald Dahl said this ....and maybe he was thinking about Oceania when he came up with it
Value the story
5 weeks to result ....
There's a lot in the story. A story where vulnerable old people are really well cared for and treated with dignity and respect. First class standards of care and facilities.
Matters heaps to the residents and their family members. No ESG concerns with this company which enjoys a stellar reputation in the industry.
You are on the way.... like in the Damadoran approach.
Firstly develop your story for the business ..how it will develop over time. Test that story ....is it possible and plausible.
Only then convert the story into drivers of value. Your numbers need to be backed up by your story.
Then you connect the drivers of value to a valuation.....what’s the business worth (and don’t cheat and use relative PEs or reported NTAs to do this)
Believe your base story but develop it over time.
The value is in the story.