my relationship with fun is strained, page-3

Great post; thank you for that in-depth analysis of the book.

I won't put too much on the share price drop - I bought another profitable company called infomedia (IFM) a few years back, it drops from 38 cents to 20 cents for 2-3 years and jumped back to 54 cents the day it was added to ASX index.

The silly me sold out at just 10% profit when the stock basically tripled in value. That is after holding the stock for years without movement (but with 10% dividend fully franked per year, so not all is lost there)

with small companies and their lack of liquidity, price is not a reflection of value; as long as they are still profitable - price adjustment will eventually follow in a very swift fashion due to the small cap.