If the market does not like the sector, that for me as a long-term investor is not the issue, unless there is a fundemental business reason to want to withdraw from CCP because its profitability is going to decline for the long haul.
My take is that One-eye is king among the blind. The sector is notorious for attracting the wrong sort of top management, and CCP is unique in not following the sector in that respect. This factor is, IMO, going to produce long-run growth in the USA for CCP at the expense of the "blind".
If CCP gets into the habit of raising capital, and borrowing too much, I would change my mind about Management. I dislike capital raisings and borrowing to fund growth. Old-established companies should, as a rule, have sufficient funds to fund growth. If the opportunities to invest funds are compelling, then the dividend payout ratio should be reduced, unless the investment is opportunistic, and über compelling.
CCP Price at posting:
$14.68 Sentiment: Buy Disclosure: Held
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