Close your eyes and hope for the best, page-10

I have come and gone from this company in the past. If you check back many years ago I had spreadsheets trying to keep track of sensors under management etc. 

I bought a lot in 2014 till early 2015, with my investment heading underwater before it rose to the mid 20s. 

I held on for over a year, but got weary of the constant promising of EBITDA and then extraordinary items removing any productivity. 

I ended up selling for a tidy sum but always kept my eyes on it.

Then the NZ PIE Funds started buying in and the price got to mid 30s - obviously I was kicking myself for selling.

Mismanagement, then the same fund selling, and now the same story over and over again and we back to almost when I started to invest.

Talk about a bumpy ride.

It has perked my interest again, though. I feel like they have dropped some fat and have become a more lean business.There are only so many extraordinary items you can have before you do start showing serious EBITDA numbers and growth.

Plus it is always a good time to invest when shareholders are angry with a business - means the price is driven more by sentiment than anything. That is when inefficiencies appear, and opportunity exists.