net_tech,
Very well put. In the past I have heavily favored Newbridge STOCK
over Cascade stock, because I have generally found Newbridge to be
generally undervalued, or fairly valued at most, while Cascade seemed
to be obscenely overpriced. Additionally, being Canadian, I must
admit to being somewhat biased towards the local-company-makes-it-big
vibe.
I know a lot more about Newbridge because I have actively sought
information about the company. Cascade seems like "the enemy". My
attitude is certainly not rational (although it's easier to hold
Newbridge stock, as a Canadian company, in my retirement plan).
I would certainly welcome a discussion directly contrasting the
positioning and strengths of these two companies. This would be of
substantial benefit to shareholders/prospective shareholders of
both companies, particularly since many investors cannot possibly
be exposed to the intricacies of the ATM market enough to understand
what they're really holding/buying.
Purely from a valuation viewpoint, I find Newbridge to be pretty close
to a screaming (long-term) buy. This, however, conservatively assumes
that this company will be able to grow its business substantially over
a period of years. Is it reasonable to assume that there is room in
the ATM market for more than one strong player? If so, there is a lot
of money to be made in this stock. I don't need to believe that
Newbridge will one day rule the world; I just need to believe they
can achieve sustainable growth.
I know many people on this thread will be quick to make the bull's
case for Newbridge stock. It would help me if, on an investor-to-
investor basis, somebody like you (who is perhaps leaning towards
the Cascade/whoever else camp) could realistically concede that
there is probably a lot of growth in Newbridge's future.
-Andrew |
