Ann: CCV H1 FY2023 Results Presentation, page-9

Cashies are a classic case of being seen as boring as bat turd (which as a part time novice investor I like). They have not got the excitement and the bells and whistles of the likes of the so called growth businesses that have not made a profit and are unlikely to produce a profit for a long time, if ever at all. Unlike CCV these are the companies that have attracted huge spikes in share prices over the crazy past few years based on the expectations of being different, new, revolutionary and sexy. Although this view amongst retail investors and institutions over the past 6 months seems to have changed which is reflected in some of the dramatic share price declines.
CCV on the other hand were punished as they should have been several years ago and have paid the price but seem to have sorted the mess out. They have a proven business model and additionally showing good new lines of growth offerings to the public. This last report has some beautiful numbers relating to growth in revenue across their business and it seems the momentum is expecting to continue. From and investors point of view (if you read past the head line loss incurred) the current returns on SP, capital allocation, low debt levels, money in the bank, large % increase in revenues etc etc should get people very excited. The smart money is either staying in or slowly accumulating. One just needs to look at the top 20 shareholders of the company and as to how much of the company they owned individually and as a whole. Sometimes some owners are happy for the value of the asset remain low while they keep buying up more of the asset particularly when you are currently getting at least a 8.5% fully franked return and likely to keep that moving forward.

So yes they are seen as old and boring and not getting much attention but as we move into riskier times CCV might be finally seen as a safer set of hands.