On a somewhat unrelated note, MND is demonstrating the value of investing in a high quality business within a beaten down cyclical sector. If you had invested in a basket of businesses in ths sector, on balance you will likely have done well as the cycle started to revert, but you would have had to spend a lot of time and energy examining a lot of businesses, and then you will have had a nervous finger hovering over the sell button, fretting that your realised value may evaporate at any moment.
On the other hand, if you'd bought MND, you would have saved yourself a lot of time, energy and anxiety, and you would have ended with a cyclical business that comes out of the cycle looking like its more than just a cyclical business (yes, perhaps some hindsight bias here, but humor me...).
Look at the way maintenance & service revenues have grown. One thing is almost certain, as the cycle normalises and engineering/construction revenues grow, there is no reason to believe that maintenance revenues will diminish (quite the contrary). That's structural growth.
Buy and forget (almost). That's my kind of investing.
MND Price at posting:
$14.88 Sentiment: Hold Disclosure: Held
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