CDD -- The Next Two Years, page-15

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croasian1

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04/01/21

10:17

Post #: 49921541
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Originally posted by croasian1: ↑

I am definitely going to follow you on that and be a solo contractor, the big consultancies have little value-add and I have skills they don't have.

I think your interpretation of their business is valuable as you are close to it, in short I agree with your impression of the business but think your $100m impairment is not a level-headed assessment f the prospects in relation to the price.

The ID margins reflects the fact that they are using independent contractors who are in a position to demand a bigger piece of the pie. That's interesting what you say about small projects, I think it's spot on - I don't think any of the big consultancies can compete with sole traders for these little jobs. That explains why they focus on the bigger projects.

This might be the best explanation as to what happened to Cardno's Australian business - yet, less than a 5% EBITDA margin?

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I love it when people tell me a bargain purchase has no future be it:

Iron Ore as @sailnyssa recalls,

Oil and Gas as is the case today,

Cardno's Australian Business,

This has a long history going back before 1932 when everyone thought neither the trucking or rail industry had a future, times were certainly bleak but that was not a rational assessment.

http://csinvesting.org/wp-content/uploads/2012/09/american-corporations-worth-more-dead-than-alive-3-parts-by-b-grahams.doc

CDD Price at posting: 34.0¢ Sentiment: Sell Disclosure: Held
1 Upvote

0 Great analysis

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CDD -- The Next Two Years, page-15

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