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 Originally Posted by value_investor
What I don't understand is how after the last earnings downgrade, the stock fell from close to $8, down to below $7 and then back to $8. It literally went up in value after a profit downgrade. This would be understandable if the company was a good one. Like the company had strong fundamentals, or good management, or they were in a stable environment but FBU aren't!
This movement is ridiculous. How can a stock with 3 profit downgrades in a year be trading at such a strong multiple. Is there too much emotion about FBU out there? Perhaps a lot of older folks putting money into it. Or is this just the bull market?
THIS. It has actually gone up in value after its latest downgrades. I mentioned this after their 2nd downgrade and since then they have had two more and are still trading above $7.50.
Meanwhile MPG SP has been slaughtered and shown no mercy after seemingly less severe downgrades. It now is on a PE of less than 9
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Member
I wonder if Ralph norris will survive...he surpassed dreadful a while ago... Surely he's earnt enough now to politely extremity off...
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Originally Posted by JeremyALD
THIS. It has actually gone up in value after its latest downgrades. I mentioned this after their 2nd downgrade and since then they have had two more and are still trading above $7.50.
Meanwhile MPG SP has been slaughtered and shown no mercy after seemingly less severe downgrades. It now is on a PE of less than 9
I agree its absolutely ridiculous. Someone listened into the conference call, (sorry forgot who) and said analysts were like pet pussy cats with management or words to that effect. too scared to ask searching questions. FCNZ put out a research note after the most recent downgrade many months back calling fair value at what I considered an absurd amount of $9.20 from memory. On the other hand I opinioned how I couldn't see any reason why anyone would pay more than $5 and went on to say at that time this wouldn't be the last write-down in that division by any stretch of the imagination.
Sometimes I thank God that he gave me a good brain so I can do my own analysis rather than relying on these "professionals"...the same ones who reckoned AIR was worth only $2.10 this time last year. I should probably thank him more often.
Whatever figure they come out with as a write-down on Monday will not be the end of it, itll just be their most recent guess of the amount of wood rot in the wood pile.
We can really "rely" on their latest write-down guess can't we...because their other guesses have been so full and final and so "accurate" lol.
What a sad and pathetic situation.
Last edited by Beagle; 09-02-2018 at 09:06 AM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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Beagle - in a round about way even you (and me) probably “own” quite a few FBU shares
Good eh
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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I run my own super scheme mate, (like to be in control of my own destiny at least that part of it I can control) and at present don't own any ETF's or stakes in managed funds in N.Z. so I am proud to say I don't have a single FBU share either directly or indirectly and that's extremely unlikely to change anytime soon !
Last edited by Beagle; 09-02-2018 at 11:26 AM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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Originally Posted by Beagle
I run my own super scheme mate, (like to be in control of my own destiny at least that part of it I can control) and at present don't own any ETF's or stakes in managed funds in N.Z. so I am proud to say I don't have a single FBU share either directly or indirectly and that's extremely unlikely to change anytime soon !
The Queen owns quite a few on your behalf .... and no doubt ACC have heaps
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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Originally Posted by winner69
The Queen owns quite a few on your behalf .... and no doubt ACC have heaps
ACC I understand but how does the Queen own any on our behalf?
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Originally Posted by peat
ACC I understand but how does the Queen own any on our behalf?
New Zealand Superannuation Fund Nominees Limited as nominee for the New Zealand Superannuation Fund being property of Her Majesty the Queen in right of New Zealand and managed and administered by the Guardians of New Zealand Superannuation (“NZSF”)
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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Okay, got ya mate...I'm sad now, thanks for ruining my day even more lol
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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