I have held this stock on and off for a number of years. Made decent returns through buying when the share price was weak vs fundamentals and selling when it was strong vs fundamentals.
(Lol same as QBE).
The old management team I think were better operators of this business than the new management team (could also be that the old management team had much more personal skin in the game lol).
However for us small fry, its the underlying business that's most important (Buffetts view that its better to invest in decent businesses because eventually you will have average management running it).
And for me its a reasonable (but not great) business. It provides a product that remains relevant and its future demand should remain in place.
Current management have done some stuff ups including panicking last year, moving their portfolio into lower risk, doing a capital raise at bottom prices, only to see the market stabalise and for higher risk assets to really perform, thereby giving them future portfolio yield mismatch.
Having said that with the latest pull back to $5, its price looks ok to enter again as a 1st position (I usually allocate just 20% of my desired portfolio allocation, and then see what happens).
CGF Price at posting:
$5.01 Sentiment: None Disclosure: Held
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