News: PTM Platinum Asset Management Says HY Profit After Income Tax Expense A$60 Mln, page-49

Painful. Portfolio still holds 11,930 units of PTM (since 03/2018) at a $4.383 holding cost as of yesterdays dividends. Personally I only have 3 choices here:
1. Let the dividend pay for the original $70k investment. Which so far has paid almost $20k of the last 4 years
2. Take the capital loss, If I sell now. That is a mark to market loss of at least -$25,809.
3. Ride it until zero..

At this point I'm taking option 3 and riding this until Zero as a worst case scenario on that 4 year old parcel. Because my circumstances allow me to. I hold plenty of cash and the $4.38m ASX portfolio can drown out this kind of underperformance. PTM only commands 1.18% of the ASX portfolio.

I might even take another bite sub $2.20 If I can be reasonably certain that the 22-23c dividend can be maintained. That is a 10%+ dividend yield at these prices. 14.27% If we include Franking credits of 9.4c a year.

But seriously If I was a small retail, I would have sold years ago. But funny enough I was ahead of break even on this, on a holding cost basis from March to July last year. So personally its only been around 8 months of pain. See second line below...

Something has really fundamentally changed in the company (and for the entire sector) for this to be hitting all time lows now. Do we have Russian investments, is there another Asian financial crises, does everyone hate PTM for being right at shorting overpriced tech companies... at this point I won't even open that can or worms. I'll just let personal circumstances and a belief that a cashflow positive company in good financial health and minimal debt has a very low probability of going to zero.