Suppose dead not a good word to use ....should have said spot on ....but then Spot was a dog as well.
spent many hours looking for Spot in Where's Spot
Speaking of dog's I reckon shareholders are barking up the wrong tree to think the systemic issues within this complex company can be solved quickly.
Maybe one day it will be a great company again but I have very little patience when it comes to incompetent management and weak boards.
Its performance against the NZX50 over the last decade makes for a VERY sad comparison and to be frank I see nothing at this stage that would suggest that serious relative underperformance won't continue. Certainly the company is trading at a very demanding multiple for what is a cyclical building supplies and construction company with a highly chequered track record. The potential for ongoing disappointing performance is very high in my opinion.
Disc: Don't own and definitely not looking to buy at anything like the current price. http://www.sharechat.co.nz/article/7...areholdershtml
In addition - behind the paywall article in NBR yesterday claiming FBU had pulled out of the tendering process for a major new prison project and that directors must now sign off on all future construction projects, Wow, there's confidence in the new CEO (NOT !)
Last edited by Beagle; 16-08-2017 at 11:11 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
Heard Sir Ralph say Adamson got no more than he was contractually liable for - or words to that affect, still, who approved the contract in the 1st place, though probably not expecting their CEO to write those kind of emails and even further, not expecting them to get to the public domain.
Disc: Not holding/ or recently held
Last edited by Jay; 17-08-2017 at 10:29 AM.
Reason: go to got
Matey, powering through the $8.00 barrier reasonably effortlessly.
Next restructuring announcement will take it above $9.
Still in target to $9 eh mate
Good gains from $7.40/$7.50 (>10%) in less than a month ...with more to come
Besides that building division the rest of the business doing very well with significant earnings increases. Looking forward we could even see a share price well over $10 this time next year
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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Originally Posted by winner69
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