I've taken a few quick looks at MVF and VRT since they listed as I like the longer term demand thematic, but I have never got comfortable with the supply side - seems like the very attractive economics you mention are starting to attract competition and there's relatively low barriers to entry here, plus the human capital in these businesses seems to have significant bargaining power.
How do you tend to look at these things? Do you think the business will be earning its current c.50% ROTA say 3-5 years from now?
MVF Price at posting:
$1.27 Sentiment: None Disclosure: Not Held
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