I ended up with Wagners as a recommendation from a broker, and...

I ended up with Wagners as a recommendation from a broker, and was guilty of not researching the company. They seem to have set up the company with the Wagner brothers owning all assets and leasing to the WGN listed ASX company at a reasonable rate. This means WGN has no assets more a good will component with the Wagners brothers in a good position for any negativity such as covid induced recessions. This means all the great things such as a Toowoomba Airport or a quarentine facility does absolutely nothing for the WGN share price. Good luck to the Wagner brothers as they have set up a robust business model for themselves as the concrete business pays leasing costs irrespective of the economy. For the share holder you will pay the brothers irrespective of how the economy is going and the economic cycle will reflect in the share price, but this has been poor for a long time event though we are in a building boom. I am disappointed by not researching the company well enough and will move on at some point . My reflections is do not listen to brokers who may have conflicts in their recommendations. The same broker recommeded to sell woolworths and buy LNK and I live with the poor recommendations but accept I followed their guidance and paid the price. Never again. DYOR

George