Ann: Market update, page-13

PE is measured historically and not always the best metric to look at a growth stock like PNI. in my view, Until PNI either consolidates its aggressive growth strategy or their affiliates performance and subsequent inflows tank, their past performance will demand a share price that reflects a super high PE. Fortunately neither has happened as of yet although the sell off has been pretty severe. Down from $19 to $12.50 in the space of a few months. I bought in at $15 so nicely underwater at the minute but i sold out of MFG at $36 to fund my investment in PNI so not feeling too aggrieved with how its turned out.

And if i had to choose one, i know which camp i'd rather be in for the long term