Although I accept that NCK is operating in an industry that is very competitive, lacking barriers to entry, and highly cyclical, I am still in the opinion that NCK as a business is relatively top quality.
An example of a top quality company operating in an ordinary industry, is REH. REH is basically a wholesaler/retailer of plumbing products. However, due to the superior stewardship of the Wilson family, over many decades, it has transformed into an extraordinary business to own.
I believe relative to other top tier companies, NCK's current valuation is already at a discount.
NCK Price at posting:
$4.97 Sentiment: Buy Disclosure: Held
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