Like the use of 'satisfactory'
- Expect half-year to be satisfactorily improved on prior period
- Full-year result should be satisfactory
Actually - they even are able to top that:
"Air & Ocean contribution very satisfactory;"
Apparently "very satisfactory" is used when they are talking triple digit increases (like above 100%). Anything below that is just "satisfactory".
What can I say? I find it quite satisfactory to hold Mainfreight shares - and actually, the share price since March 2020 (that's when I bought in) developed "very satisfactory" ;
Good company - long may it last :
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
I particularly like these quotes from Bruce Plested at the IPO:
“We are creating a 100 year company. You don’t get that by cutting corners.” The founders letter, signed by Plested and Graham, had several pertinent comments including: “You are about to learn some of the secrets of this very Kiwi company started in Auckland in 1978 with a paid up capital of $7,200.” “We decided to imagine that the business was going to last for a hundred years.” “We will continue to be close to and understand the business of our customers.” “We will continue to promote from within, to seek high energy, intelligent, personable and educated people.” “With a public float these people will have the opportunity to become shareholders and take ownership of the success they help to create.”
I hesitantly picked up a few of these yesterday at $ 83.30 thinking, as I almost always do when I add a few MFT, that the SP is overcooked. Yet 24 hours later it's up 5% to yet another ATH. What a great share to have in the portfolio.
MFT a beautiful company but holy heck it is overvalued???? Going off ASB securities its on a 46 P/E vs say that of EBOS at 27.
Why does MFT currently trade at double its historical PE?
What happens when one year they turn in a poor performance compared to market expectations? If they get re-rated back down to somewhere in the 20s it would be painful.
Disc. Never held. Wish I do. Thought it was expensive at $53. Now $86. See you at $100.
MFT a beautiful company but holy heck it is overvalued???? Going off ASB securities its on a 46 P/E vs say that of EBOS at 27.
Why does MFT currently trade at double its historical PE?
What happens when one year they turn in a poor performance compared to market expectations? If they get re-rated back down to somewhere in the 20s it would be painful.
Disc. Never held. Wish I do. Thought it was expensive at $53. Now $86. See you at $100.
It's like FPH - its got growth in its DNA. You always have to pay too much for it but down the track you're pleased you did.
It's like FPH - its got growth in its DNA. You always have to pay too much for it but down the track you're pleased you did.
But the big re-rating only came after covid. Why?
Otherwise always traded on a lower multiple.
FPH always traded on high multiples so no re-rating.
Have people just decided they would rather own MFT than cash? I once heard that about google. Better to own google than cash- something like that.
Or is this an overseas index thing or something?
But the big re-rating only came after covid. Why?
Otherwise always traded on a lower multiple.
FPH always traded on high multiples so no re-rating.
Have people just decided they would rather own MFT than cash? I once heard that about google. Better to own google than cash- something like that.
Or is this an overseas index thing or something?
All I know is that selling down FPH a few years ago because it looked ridiculously overvalued cost me a heck of a lot of money so now I just let them (FPH and MFT) run. I'd buy more if there was a general pull back but otherwise I just let them run. One day they will run out of puff. But that's not today and probably not tomorrow.
Reply With Quote
Originally Posted by winner69
;
:
Bookmarks