CINR - Do Not Invest In Ciner
Investment Thesis
Quantitatively, Ciner (CINR) is a sound investment offering an attractive 8% dividend yield that is well-covered by operating cash flow. However, the qualitative factors are far worse and cause the company to not be considered investment-worthy at this time. The recommendation is because Ciner is a subsidiary of a larger business, and the larger business acts as a third-party manager of the company.
I dislike third-party management structures for quite a lot of reasons, but to stay on point, I will only be addressing ways that this specific third-party manager is actively destroying