You are anchoring on your entry price. You have a wide margin of safety with your entry (well done), but that doesn't increase or decrease the likelihood of a drawdown from this point onwards.
You may think the risk outweighs the rewards, which is fine. That isn't the point. Cash in the bank is risk free. $100 in the bank will continue to be $100 going forward. You can't say that for any of your investments, so the argument that "I'm only getting 2% in the bank so I am going to invest in X" isn't an apples-and-apples comparison, because it ignores risk.
Ann: Special Dividend, page-24
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