Sit tight and win a little VS. Shoot the lights outEveryone here has valid viewpoints.
Something that has not been discussed is the good old "Shareholder Base" at GH.
I've bought a few shares of this co for a few people over the years.
We discovered: Nobody owned GH for triples and home runs. People were seeking stability of income, Alberta exposure, very modest capital appreciation, a low-risk holding within an income portfolio.
Most didn't know: Best-in-class management, very substantial insider ownership, blue collar business people that get the job done on budget, on time, every darn time.
We watched "Great" Canadian Gaming's bloated balance sheet almost send them into insolvency back in 2009; Gateway would have buckled too had it not been taken private a year prior. Both of them were Canadian Entertainment "Growth" stories.
GH took a moderate kick in the rear with moderate exposure to Cowboys Casino, next to Stampede. Had there not been 2yr recession from Credit Crisis, maybe we would be part owners of it today. Doesn't matter now. Lessons learned. Black eye healed, back to business.
TLV a very smart guy, maybe the brightest contributor on SH I've ever seen. But you can't ask a corporation to adjust its long-term capital allocation strategy to fit your personal investment strategy; you have to allow business to be conducted by the guys who know it best.
Suggestions welcome, surely, but unless we are Carl Icahn we are not going to take the captain's quarters of the pirate sloop.
I'll keep peeling the potatoes and sourcing beer kegs on the long voyage to India.
Something I've learned along the way: Let the leaders lead, contribute where, when and if you can.
In the end here, the guys who stand to benefit the most are all the shareholders; their share of the loot is equal to the number of shares they've committed to own.
I'm not smarter than management, I just yell out to the crew when I see another ship approaching.
The rest is up to them.
Our ship is still active on the seas while others have been plundered.
Something to think about.
Happy March, gents!
NCIB was active in Feb, stats out next week.
Q4 Earnings will be around 2 weeks from now.
Sit at the table, order a cranberry and soda with Kasking, see what cards you're dealt.
TheBridge will be by later, probably pick up the entire tab before you've had a chance to cash in your chips.
The "hurry up and wait" strategy can be enjoyable when you're in good company.
So far the waiting here at GH has proven profitable.
Well, that's what the accountant tells me.
Can't argue with that.
She's smart.