RE:RE:RE:Paying $2.40 for $3.70 seems like a no brainerI liked your post. I think its fair to throw out criticism - perhaps there is a lot of bullishness amongst this group (count me as one), but I don’t believe it is mindless group think. The posts to me seem to be mostly informative and not how we are positioned to have a no-brainer multi-bagger -- I get the irony of responding to a thread title that includes the term “no-brainer”, but if you look back at the majority of the posts - they have more substance than most forums.
That said, I would welcome more specific criticisms and communication of the bear case - to fight groupthink, we should encourage opposing views. 1) perhaps the political environment for pipelines and the corresponding delays / project cancellations could have been identified and it will continue for the foreseeable future and management will fail to run more efficiently, “dreaming of the good old days”, 2) perhaps you think margins will permanently compress to levels not being considered, 3) perhaps you think that true depreciation is higher than people contemplate, 4) perhaps you think the curse of the Venture exchange will never lead to a catalyst, 5) perhaps you see the control of Frank being a negative and not a positive. I welcome more insight on these issues and any more you have.
In my view, I have thought a lot about these risks and think that with the backlog and margin of safety in the current price - I really like this investment and I personally care more about company execution then stock price action, the latter should sort itsself out if the execution is there. I, of course could be wrong, but the bear case as I understand it is priced in but would welcome others to post concerns / risk factors to continuously check my self.