Post by
pierre55 on Jan 23, 2021 2:12am
Uncertainty is part of the game!
HI Rookie2021 (and other folks),
See Rookie I understand your frustration. In goodwill, you bought a piece of the company and with time all these scandals pushed you to sell (with a loss) in an attempt to save your investment.
You are right. This company's management was very corrupt. Forget Libia (corruption is part of doing business). Here in Quebec CUSM, Jacques-Cartier etc. BUT, don't forget we are talking about another era (10-15 years ago). ALSO, new management, new verification processes in place AND the eyes of the whole world watching them.
As for AGRAFE 2, you shoulden't be concerned, the real legal problem for SNC was the Libia corruption and its settled. The old mistakes of SNC have been priced-in a long time ago.
As for the pumpers here (or cheerleaders), well, if you invest your money in a company it's because you believe in it. I for expemple bought SNC in 2019 (before penal agreement) paid average $24.09 and the share dropped to $15.50. Some people thought I was crazy to invest in this falling giant, but I diden't worry (ok just a little) because I really beleived no governement would have let this company fail.
This year my confidence has been shaken alot. The last 3 Q's were terrible. But I understand that this is a huge company and a major change of direction takes time and is very painfull. I beleive that the worst is behind SNC and that some positive results will start to show in 2021.
In conclusion, MORNINGSTAR EQUITY RESEARCH (Dec 17 report) rated SNC very high uncertainty. There is definately a certain risk factor here (hence low sp) and nobody has a crystal ball, BUT the reward could be as great as the risk.
Who knows ROOKIE, maybe your greatest revenge against SNC would be to buy their stock and eventually make 50-100% profit... ;)
Cheers!