I topped up a few more yesterday at 98 cents. Good long term opportunity at that price as has been demonstrated by Directors putting their money where their mouth is at that level.
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I topped up a few more yesterday at 98 cents. Good long term opportunity at that price as has been demonstrated by Directors putting their money where their mouth is at that level.
Yes I think the market is waiting to see how their track record plays out. If they beat guidance and the outlook is sound there's a genuine opportunity for sector outperformance over the next year or two as they re-rate to a multiple more towards the middle of the sector. Needs based business, very strong reputation and cheap multiple makes this a highly defensive investment with the main risk being development execution. You'd have to say in that regard that getting projects this year to date completed on time and on budget is a very encouraging sign in this construction market and augers very well for the future.
Right on $1 from memory.
This quote taken from Black Peterīs good post on the CBL thread. A worthy reminder for DYOR: " If the directors of a company have lots of skin in the game it might just mean that they have been so far lucky (to make or inherit this money), not that they know what they are doing;"
I remember talking to a very knowledgeable investor about a certain gentleman who became Chairman of EBO, a number of years ago.
When I pointed out to him the guy was very wealthy and already a successful businessman ,he told me "anyone who marries a Lord Mayor of London's daughter will be wealthy." He did not last long as Chairman.The fact he was an ex MP should have been warning enough.!
So yes whether they are self made or not is very important.
Then again Sir Doug Myers certainly turned the family wealth into a fortune,as did Kerry Packer.