RE:RE:RE:RE:Cheerful season nothwithstandingHolding Aecon in the last 15 years was not a super bad proposition. However, you would have underperformed the index and take unncessary concentration risk in the meanwhile.
You could argue that time in the market is the most important thing but I disagree especially when holding a lot of shares of a single stock (ie. not the index).
Point of entry and exit are in my book the only thing that matters. At 29.70$, I do not see the value vs risk of short / medium term pullback. I agree with Gabriel's long term analysis but Mr Market is what it is : we should add to the equation :
- macro : current market is exhuberant and is bound for a nice correction
- adoption of nuclear energy. I am pro nuclear but it is still considered a very delicate subject here in Canada
- possible surprise about current and future LSTK projects.. Yes they provided us with a 'number' and the market has rewarded the stock for that but we are still not completely out of the woods. Also, not everything in the backlog is of PDB variety, thus exposing the sp to unforeseen consequences.
I'm slowly buying back 85% of my shares.