HW - thanks for that - yeah it seems like the acquisitions could...

HW - thanks for that - yeah it seems like the acquisitions could be a bit of a smokescreen for declining growth rates. I notice NPAT grew only 12.2% for H2 on H2. I have a feeling that CRZ's growth rate will not be recouping recent growth rates. At a 12% growth rate for the last period - either that is a massive aberration, which is certainly possible, or this should be trading on, say 15X PE to adjust for risk - using a PEG rule of thumb. Even at 19x fc 2015, this will be trading at a bit over $9.

However I notice that on FNarena - there are 6 broker updates, with only 1 sell and 5 add/buy etc. I have a feeling that a lot of retail buyers will be collecting this off the institutions as they sell. Or maybe they all know something that I do not.

(I bought a new car recently and tried to use carsales to gauge selling prices etc- thought it may help with haggling with the dealer - but it was not helpful tbh. However different story for a used car I think.)