Retail Sales Up, page-21

The issue with your approach (and other down rampers here) is that you value companies like KGN and APT using basic unsophisticated tunnel-vision metrics like EPS and NPAT that have no regard to withheld capital or future acquisitions/ventures to be announced. That is how you got it wrong with APT. I dare say you are following the same sad road with KGN too. And that is how you arrive at your faulty conclusion that KGN will never overtake JBH.

And even if you do use EV or a more sophisticated metric to value a company like KGN, it couldn't possibly incorporate the future earnings to be generated by whatever RK is putting $150m into. But I'll sleep easy knowing that as a long-term holder, I won't be missing out on any of that