so much for the recovery, page-24

Ah 2018..that's a long way away and Watpac could well have come roaring back by then, but in the meantime we have this small matter of a possible recession to endure. Building, construction, mining and engineering is a game where current players are quite competent given that they all have come through the same competitive forces, so to say that they will all fall off could be an overestimation. And yes, debt can be a killer in tough times but that doesn't mean a debtless company is making good profits.

I held WTP at $1.20 and cut my loss at 70c. I believe we are in for lean times and it is not a good idea to be long on WTP for a year or 2.