You are very right - if I had been investing in RBC in a downtrend!
Counting on RBC turning out like Tenon - that's my story and investing rationale behind RBC.
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Nice to find myself in agreement with you Balance. NBR also reporting on MPG's issues today. Link it to FBU and perhaps all is not well in the building/contracting sector.
ps I share your hopes for RBC (a conservative 2% of my portfolio)
I am comfortable with RBC, Left field. You will note that one of the major shareholders has no choice but to sell as the fund is in liquidation mode.
Like Tenon, one of the big shareholders finished selling a few years ago and it has been a very rewarding ride from then.
The building industry in NZ is due for a major shakeup imo - costs have gone completely out of control with duopolies milking the industry for all they can get.
I was in China and am stunned by the cost differential between building costs there vs NZ - especially for materials. They build super skyscrapers there with plenty of glass and it beggars belief that NZ is not importing the glass here in competitive quantity.
As a newbie investor I made the mistake of investing in a downward price trend. Initially at $1.26 and then again at $1.06. Lesson learnt.
Nothing wrong with investing in a downtrend as far as my experience with MPG goes :)
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