a static valuation comparison , page-32

Autosime,

if I had more money I would have not sold any and would have bought more if it gets lower. I had to decide, going down with the whole lot or going up with half of it. Latter is the better option even if it means to miss out on any gains.

It doesn't matter what we think, it matters what the other ones, holders and non-holders think and how they act. If they decide to sell we can't stop them even if they would be doing the most stupid thing on earth. As someone with limited capital I have to think about preserving capital as well as about making profits. That's what kept me alive since 2005 and so far I was able to continue each year just on the previous years profits. Not huge gains of course but at least good sleeps at night.

Fear is stronger than rational thinking and AVB is not immune to that human behaviour. Otherwise AVB would be trading already at 20 - 50c.