Exciting timesGo figure.
I did the oldest trick in the book: ignore the chaos and hold.
I sort of wish I didn't accumulate heavy in the high $6.00 range but that's OK in the long run.
Market irrationality is a crazy thing. This was a good move, but I suppose it's the uncertainty that hangs over the market's head.
What went wrong?
1) The mills bought are great on paper, and unknown in reality. They all need to start going at full numbers. Will it happen? Yes it will -- they are modern and staffed. Could there be delays? Yes.
2) El Dorado was supposed to be material for Q1 and it wasn't. They needed to manage this expectation better. Sure its 2 shifts now, and this will work for Q2. Is this terrible? No. Was it unexpected? I guess so.
3) Maybe the terms of the deal? Who knows. I like the terms myself. But if the assets don't perfrom it's bad of course. See #1 point.
4) The bigger picture. I think we need to see some assurance that CFF has the people and skills to make this happen. I'm sure it's underway. But a big name COO in charge of the US South might go a long way. This company is good at finance, and figured out how to run well up north. But they need some help perhaps in the South.
In short, please reflect and grow and reassure investors. My point on the divi still stands.
Anyone know anything on decking?? Now this is a material segment. I went looking at Home Depot on the weekend and didn't see much.
GLTA. See you at $30 to $50 a share in Q4 2019, should these points unfold as I expect.