A gift horse...6 Jun 2019 15:34
I feel reasonably sure that as long as you hold........ G will pay off and reward your patience. A co with our balance sheet, fcf,
very low production costs and a divvy payer to boot to be valued at c.£476m seems perverse.
But I and others have being saying this from 300+ down and until recently talking of 500 by year end.
That's out of the ballpark now (outside of that Swan event), so we have to deal with the realities of the mrkt place.
Railing against the mrkts view of G helps no-one.
Currently Mr Market is offering you 170 worth of stock for which you think is worth 250 - 300 or more, a $ for two $.
I'd be delirious....well that's a bit strong but certainly happy to tuck a few away.
Its as if someone has stuck a 'For Sale' sign over G when the fundamentals say 'Not For Sale'.
It's not even as if the Co is experiencing a temporary difficulty or setback, quite the opposite. You won't get many better opportunities to buy a piece of a Co albeit an O& G one wherever it may be or whatever it produces than a piece of Genel if trawling balance sheets is your thing. If you find one please let me know.
Am I talking my book? Perhaps and given the sp history its a risky call as the Co is unloved by the mrkt and I could just be compounding my mistakes even if I don't believe I have made any outside of not running with the herd and yes I ignored the geo politic.
That's one of the main bellyaches of G investors the nos don't seem to count. Another, they buy low tech, can fathom where, when, how and how much the Co is going to make going forward and get skewered, as if G is a high flying blue sky 500x earnings incomprehensible techie where nobody knows where the front door is.
Stick to the nuts and bolts i say they usually pay off if your obstinate enuff to stay the course.
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