Forum Topics GNP GNP 10 bagger

Pinned straw:

Added a month ago

Never thought this would happen from a stodgy old engineering company. Has nearly cancelled out all the other terrible companies I have also invested in!

Looking forward to reviewing execution, results and the newly announced acquisition when I get back to Oz in July. But for now just enjoying the ride and an extended holiday in Europe.

Of course, having posted this, there will be some horrible fraud revealed tomorrow with a subsequent cratering of the SP.

It remains my largest holding both IRL and SM.

karlrockdrain
Added a month ago

Congratulations amd well done and even better as you are on holidays.

Genus and i were in the same industry many years ago when they were a private company and even though they were a bigger fish, I would occasionally go head to head with them on Tenders. The Ritchie Brothers are very clever guys and there personalities compliment each other. They are hard nosed, no BS blue collar guys and understand the value of a dollar saved. I distinctly remember going to an auction for some power line gear and they were buying containers of gear at 15-20cents in the dollar, because they knew eventually it would get used on a project. That was the first time I realised that they had some real business acumen amd would be a big player in the WA Power industry as they scooped up smaller competitors. They have since gone gang busters and the Public Listing gave them access to more capital amd now are Australia wide and looking at international opportunities.


No regret, but i never brought any shares in them at IPO. Perhaps my inherent bias of being in the cyclical Power industry and the troughs and highs made me risk adverse.

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Lewis
Added a month ago

Gotta celebrate the wins, well done @Chagsy.

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Strawman
Added a month ago

I'll second that @Lewis -- well done @Chagsy

A win like that covers a lot of missteps (or just bad luck). You only need a few to make all the difference over time.

And it really deserves full credit, not just in the initial stock selection, but more in the "diamond hands" needed to avoid the temptation to lock in profits along the way.

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