The guidance range was wide, so now pointing to NPBT coming in at the upper end of the guidance range is, effectively an upgrade of sorts.
This hard-to-understand company has experienced horrific headwinds for many years given its interest-rate dependent business model. But those winds that were head-on are now coming from the tail.
I personally think that, unless its valuation multiples re-rate upwards to reflect the long-term structural growth aspect of the various businesses CGF operates, the company will not be around in 5 years' time.
It's got a distinct RHC "feel" about it... complex business which has been through a torrid time over the past few years with the result that Short-Timeframe, Impatient Capital (i.e., equity market participants) have got bored with it.
Cue Long-Timeframe, Patient Capital.
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CGF Price at posting:
$6.83 Sentiment: None Disclosure: Held
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