Oh I totally agree with you McQuade. Again, I don't put much emphasis on what the brokers think - I wish I could track their fair values vs changes, quarter on quarter, but that data is not public. The issue with brokers is they are not forecasting; they are not calculating the real intrinsic value of a stock; they are part of the herd and generally track the actual price. Small increase/decreases reflecting whether they think it will go up or down in the coming weeks or months is the best you will get.
Can't get much good information from Tassals, so here is a chart to demonstrate my point from Select Harvest. Love to see where people think the brokers are adding value? Barely picking the dips and peaks. My four year old daughter could have guessed in 2015 the price was going to plummet.. same now, probably way below fair value if you think of the whole cycle, but brokers looking at today's earnings only. The one advantage a retail investor like "us" has over others is patience.. we don't need to report our portfolio results every quarter.. we can wait until FY23 to get our above market returns.. we don't need to discount future earnings as harshly as the brokers, institutions, or Robinhood traders do. So short term distress may be on the cards (don't reckon it is as bad as others think, but management will eventually inform us), though the market has well and truly factored this and more in to the share price without appropriate consideration for long term growth. That's my understanding of what @noomxx was saying, which I agree with.
TGR Price at posting:
$3.38 Sentiment: Buy Disclosure: Held
