The excellent value investing newsletter Intelligent Investor has put up a review of the QRN float freely accessible via their website.
I'll just paste the summary as the whole thing is fairly long -
- QR National?s hunger for cash means returns to shareholders are likely to be low
- Without a government subsidy and dubious accounting policies, the forecasts would look much worse
- Despite the hype, this float is poor quality and overpriced to boot
IMO I couldn't agree more. The QLD government has really gone overboard with the pricing here. As long as there's plenty of other high quality stocks out there selling at a cheaper price, there's absolutely no reason to touch this at all.
