RE:RE:RE:RE:RE:RE:.... Finalstep
Everyone has to do what is right for themselves and no one is accountable to justify their sell decisions to anyone in this world. Your decision to sell is up to you. Every one has their reasons.
IMO, Ian has had enough time to right this ship in the right direction. I have been here for over 3 years if memory serves me right. I gave myself a self imposed holding period of up to Dec 31, 2021 when I first invested in SNC after the tremendous discounted haircut the share price took as a result of the scandals and disastrous earnings results surfaced. My best laid plans and analysis told me it would take until Dec 31, 2021 to fix this disaster by previous mgmt.
I had the foresight to know the share price downfall was overdone and that the value of SNC's assets were worth much more than the share price value.
I am anxiously looking forward to the Sept 28 investor day conference call. I hope Ian does much more this time instead of blowing the same "hot air" with no substance we have all witnessed for some time now from someone making a fat $8m/year. Trust me he ain't worth it.
The advantage I have is I am already green on my investment with an avg price of $25.50. Secondly I don't need the money either so I can afford to wait it out. Others I understand are not in my situation and their goals and needs are different. I truly share the pain and anger and frustration of those individuals.
The old expression "never fall in love with your stocks" has proven to be a very smart decision especially in this day and age of quick profits on your investments. Too many people want to see returns now and are not willing to wait for it like my generation did. Part of that problem today is because we have so many "fat cat CEO's" who have fixed salaries and/or bonuses and neither are tied to any kind of share price performance or share ownership for that matter. These guys are simply hired guns and not investors who eat their own cooking. I saw this in Ian a while ago and my opinion hasn't changed much about him.
SNC share price should be a lot higher today than the pathetic $34.23 cdn. It is total "BS" we are here where we are. It is a total disgrace to see this price in relation to the share prices of its peers and competitors and what they have accomplished in much shorter order. It is Ian's job to reward his shareholders by unlocking the value of SNC's assets if he cannot get there on SNC's own metrics of growing revenues, earnings and cash flow.
Sure we can say the backlog of the LSTK contracts and the O&G division wind-downs have been a thorn to our side here but those risks in those divisions should already be known and the necessary write downs were taken already and should be risk free by now.
The fact the 3 stooges who own a collective 47 or so percent of this company and have reporting requirements of their own on the results of their investments are pretty silent at least in public about SNC's ER's is dismal on that front alone. Tells me they either don't care themselves or there may be other behind the scenes workings going on.
It truly is sad to see where SNC is at today. Absolute joke imo.
Ron