mxupa presso and conf call, page-17

Hmm..I do wonder about the concept of averaging down. Have done so on a few others (inc AHUG!)and regretted it. Surely the rationale of any new purchases should be value vs price, not making existing paper losses look better by increasing exposure? I've learned the hard way to take a "square one" approach by taking the current written down value of my existing shareholdings and asking whether I'd be investing anything/less/more in the particular share if those funds were cash in pocket. It's the old saying that what comes up must come down but what comes down won't always bounce & sometimes just leaves a bloody great hole!
Having said that, I think there's stunning value in the Hybrid/Corp Bond market at present subject to the usual caveats about diversification, and intend to carry on holding this one.