You sound like a well researched investor. Infact, it wouldn't surprise me if you were part of the Kindl days, if not the Kindl family. However, that speculation aside, I think the market currently presents some good opportunities. The key is to stock pick very carefully. I think choosing the sector is probably more important than choosing the stock because the wrong sector choice makes for greater risk. Having said that, beaten sectors always offer more value, which returns me to the Consumer Disctretionary or even perhaps Consumer Staples sector. So, as a fund manager building a balanced portfolio, with a bias (perhaps) to materials and retail, do you include companies like NBL at the current valuation? The new management have shown some prowess. I think that conversion from a "family" company to a publicly listed one meant that more institutions would be alert to NBL, however I stand to be corrected given that the public company arena also has its shortcomings as you have stated. Please understand that I write this post not to challenge you view, rather to gain some perspective because from your previous narrative, it is clear you have some knowledge.
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