Anything on the horizon for us, page-2

A little story about Good Buying and Good Value.

I was watching the Melbourne Cup once with my Dad, and we were thinking about putting a bet on.

I said to my Dad: I'm picking the 4 horse. It's been 4/1, but has drifted to 6/1. That's great value for that horse.

My Dad replied: There's no such thing as a sure thing, and the only Good Bet is the one you place on the horse that wins. Everything else is just a punt. You should only bet on a horse you have researched and you haven't researched that horse. You also don't know why it's drifted. There is very likely a reason why it is now what you call 'good value'.

So what's the point?

I'm pretty sure PCL is not a Good Buy right now, but instead a highly speculative one.

I also think that if it were a horse it would be closer to having a hessian screen erected around it as opposed to winning the Melbourne Cup.

But still I hold.