My pleasure. I enjoy doing it because information is power to us...

My pleasure. I enjoy doing it because information is power to us all, and the 'shorters' for whom I have disdain may not typically be as interested in reading treatises about small cap industrial stocks. Many constructive posters/shareholders on HC are a different breed, and often give useful information so why shouldn't I reciprocate?

My main reason for writing is sometimes I can't recall what was said a couple of months ago, so putting pen to paper or the electronic equivalent is a useful reminder.

Management may disagree but LAU was a couple of years ago in danger of becoming a stagnant offering. Increased rail emphasis gives it a new focus. I was surprised at how profitable it is, given that LAU doesn't run trains (expensive process with bureaucrats requiring 'accreditation', plus paying track access fees to Australian Rail Track Corporation, Sydney Trains and across in the West, Brookfield Rail IIRC, as well as obtaining locomotives, hiring train crew, repairing freight wagons and so on).

Not for the faint hearted but newest entrant SSR (Southern Shorthaul Railroad) has just turned 10, so it can be done. albeit relatively high barriers to entry.

The trucking side may also pick up a bit given continuing good times with farmers/growers but it needs consumer demand to be reasonable. Increases in unemployment, the fake picture that JobKeeper continuing until March 2021 gives about consumer spending and much lower population growth due to little/no immigration in 2020-21 or perhaps 2021-22 are not positive for overall retail sales. Great Q1 2021 rises from COL and WOW are in part a reflection as to how some smaller competitors, especially in Victoria, have been closed such as TRS (plus KMart, Big W etc). (I'm not in favour of super high immigration unless teh labour market requires it and those coming here accept our societal rules and expectations).