RE:RE:RE:ATRL, BDT Well said Henrye
I can certainly relate to and understand. Yup I witnessed first hand the SNC downfall from the first scandal news and the stock dropped very huge that first day. That's when I initiated my position after having sold years earlier and made money there. I knew the scandal would eventually go away like it always does. It was and is a good company today. I just did not think it would take 4 plus long years to get all the legacy projects and scandals out of the public eye. That was a brutal long wait for myself and others.
Yes we hit a low of about $17 - $18 a few times over that 4 plus years. How many people bailed out and sold at those extreme lows? My guess is many did. You then look back now and ask yourself, how many smart investors bought at those extreme lows? My guess is many many many more than those who sold. Anyone who did any homework already knew the value of SNC's assets easily outweighed the risk on the legacy projects. The compsny was very safe and sound. I was just shocked the insiders were not buying at those lows with any kind of force.
There was no NCIB done which would have restored investor confidence. This is where they messed up imo. Maybe cash was tight and they did not know where the outcome of the legacy projects or the claims would lead to? Fair enough. Fast forward to today and it looks like SNC made the right decisions. I am happy for them and the shareholders who held on. Those who flipped for a quick buck or two in profits made sime money but lost a fortune in hindsight now. It happens and it's done. BTW- my avg price there was around $25.
Now a look at Aecon. I am confident the worst of the legacy projects is over. I got here late and bypassed the growing pains here unlike my 4 years waiting with SNC. I am already up quite a bit. Aecon is buying back shares through the NCIB. Insiders are or were buying back shares too. Always good to see. We also have a huge tailwind of infrastructure projects that NEED to be done whether govts want to spend or not. They have no choice but to spend. The next 3 to 5 years are going to be robust in the construction industry. We are forecasting the same thing at my company.
BTW- I added again today. The big drop today was overdone imo. My avg price is creeping up slightly to $20.13 now. No big deal. I don't mind the slow increases if I can add shares on drops. I have 2 other buy orders set up which did not get filled today. Maybe tomorrow. Today's drop is nothing and will be seen as opportune times to buy and hold for best gains, I have been through this already in my long history of investing. It's the future you have to think where Aecon will priced at. Whether Aecon grows organically or gets bought out, it's a win win at todays share price any way you slice it. Only difference is if the buyout happens first, then you get the bigger and quicker bang for your buck by holding as many shares as possible before that inevitable news flash "Aecon receives buyout offer at $???? per share". Those still holding shares probably get get your "early retirement" dreams met
As our legendary CDN hockey hero Wayne Gretzky always said, "focus on where the puck is going and not where it is now". Those who can envision and think ahead will make money. Those who are focused on and reacting irrationally to a temp in share price will always chase their own tails like a dog and never get ahead.
Looking forward to our upward journey with Aecon
Ron