why i have sold cnp, page-17

Katy 28
I have not follow CER because I want exposure to the biggest return if CNP survive. So have chosen the entity carrying the higher risk to research but remember values feed through so logic the same.
People need to remember CNP at 60 cents carries more risk than CNP at 47 cents assuming little or no change in asset values, likewise CER.
If in 7 days time I can buy CNP for considerably less than the 50 cents I received today then I am buying CNP with less risk not more risk. Also my dollars will obtain more shares than previously held.
As Warren Buffett says if you are an ongoing buyer you don't want the price going up but coming down. I believe the report around the 28/2/2008 combined with local press will further depress the price so happy to watch & wait to gain greater exposure. Given Report is only till 31/12/2007 & it mostly only contains writedowns I have allowed for in my values then hoping to obtain CNP with less risk rather than great risk. Remember bad Press is not creating more risk if it causes prices to drop but lower risk. Long term holders/accumulators should not be worried a bout further price falls it is where CNP is in say 2-3 years time.
Remember no advise given on CNP shares please do own research.
regards
Buffett