meerkat given your inherent cynicism of what seems to be all company directors, do you ever allow yourself the luxury of buying and holding stocks for long term? It seems that sometimes you can get the micro spot on but cost yourself the gains from seeing a long term story/big picture. I know you've often got things right, WMT springs to mind, but sometimes placements even at a discount are very very positive for a stock. If this placement can bring the project forward in time, in the current environment I think that would be very favourably looked upon.
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