Grinch spoils the party, page-2

Hello Mr Grinch ,
Thank you for looking deep and sharing your knowledge.

Credit Corp has performed magnificently for you, and I remember you posting on that company’s metrics some time back...but in this instance is it fair to compare something from a different sector with the three contracting businesses?
And your choice of 2010 as the start year puts NRW at a much higher share price than taking it back to 2009 (which seems more in line - on the chart at least - with the ‘dreadful year’ of 2015?



Lycopodium has a similar shape


And Monadelphous


Also when you write;

.. “Whatever the growth rate per share is for NWH, compared to CCP's performance, NWH has not grown as well over the last decade”
I think this shows how looking at things in such a very strict, and even one eyed way - whilst it might be a great investment sieve - can miss out on factors others might consider important and even crucial.

In the case of NRW, many here know the company was close to folding by the end of 2015.
(On 10/01/16 , the price closed at 6c a share )
Other companies in the sector were also impacted by the early ‘bust’ of the last mining boom, but NRW was hit hardest of all when Samsung refused to pay its Roy Hill bill and a series of drawn out legal proceedings ensued, and courts telling Samsung to pay up had no success as it kept appealing until the next step would have been an international court in Singapore.
I suspect NRW simply could not afford to take the matter any further, and instead settled for ‘peanuts’.

The fire, talent, intelligence and indomitable nature of the team turned NRW around and really has created a NEW NRW and that is why I think it is only fair that the company chose 2015 as its base year for statistics.

As always the disclaimers here are that I have strong confirmation bias and a weak grasp of the metrics you have based your considerations on .

And I hope you are well Pioupiou
And cheers