adams update, page-45

Preempt - if you liked the overall story of a company, but saw cause to believe the SP would drop a decent amount, wouldn't you sell and then buy back in when you deemed the sentiment surrounding that resource and/or the fundamentals had improved?

EG - the really smart folk (not me, but I'm sure they are out there)) who saw the timeline delays after the Japan disaster and the sentiment of U plummet, they sold out and conserved their cash.

THEN

When sentiment began to improve and the boxes that needed to be ticked got much closer to all being ticked, well, they began coming back. Those smart investors with a long term view, now potentially have three or four times more shares than had they continued to hold all the way down.

Does that make them a trader or a now holder with a realistic and astute view to their preservation of money?

And if you bring up that 'other' company again, you will be doing yourself a disservice.

No one on these threads over the years has been more bullish long term on PEN than Hangseng. He sold (by his own admission later than he would have liked) and came back recently to a lower SP. I wouldn't call him a trader of PEN.