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23-02-2018, 09:46 AM
#961
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.
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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23-02-2018, 10:12 AM
#962
Originally Posted by Beagle
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.
Very modest ratios for a company with such a strong development path in this growth sector.
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23-02-2018, 10:27 AM
#963
Originally Posted by percy
Very modest ratios for a company with such a strong development path in this growth sector.
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.
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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23-02-2018, 12:52 PM
#964
Junior Member
Originally Posted by Beagle
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.
As per your comments I consider this a low risk long term investment and am happy to have bought in at $1 last week
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23-02-2018, 09:34 PM
#965
Originally Posted by Beagle
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.
To me,this is one of the most reassuring signs that it is a safe investment.
What is the highest price a director has bought?
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23-02-2018, 09:48 PM
#966
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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23-02-2018, 09:55 PM
#967
Member
Originally Posted by fish
To me,this is one of the most reassuring signs that it is a safe investment.
What is the highest price a director has bought?
Alan Isaac bought some immediately after the results came out at $1.09. Liz Coutts picked up parcels at $1.04 and $1.02 not long after.
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23-02-2018, 11:06 PM
#968
Originally Posted by fish
To me,this is one of the most reassuring signs that it is a safe investment.
What is the highest price a director has bought?
This quote taken from Black Peter´s 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;"
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24-02-2018, 10:56 AM
#969
Originally Posted by iceman
This quote taken from Black Peter´s 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;"
True, but in OCA's case we have several experienced directors who have proven records elsewhere, not just with "their" company.
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24-02-2018, 11:10 AM
#970
Originally Posted by iceman
This quote taken from Black Peter´s 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.
Last edited by percy; 24-02-2018 at 11:13 AM.
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