FBU - Fletcher Building

[Beagle]

Just wondering - how much is a stock with a current (and big) loss due to management ineptness, a (3 year) forward PE of 23 vs a trailing (10 yr) PE of 20, no growth what so ever and a history of incompetent management and board decisions really worth?

Would a PE of 10 sound fair? I probably would think twice about that but 23? Really?

Just wondering what I am missing for not investing into this company? I guess even if they manage to magically replace over night not just all the dead wood in management but as well the inept and overpaid board - how long would the company need to work to at least be worth their current price?

What is the investment proposition?

What you're missing is this thing "dogging" your portfolio returns lol. Anyone without it in their portfolio has been very happy in recent years and I fully expect that position to continue in the years ahead. New Captain rearranging the deck chairs on the titanic...a ship that's systemically flawed is how I see it. No growth PE of 8.5 might be okay if anyone had any confidence left that they knew how to avoid future icebergs lol Widespread derision towards this company, its directors and management at the last two annual Auckland ST get-togethers I organized. Safe bet there will be a very similar sentiment at next year's meeting.
My rating... AVOID like the plague.