Yes, there were quite a few companies trading below cash position during the GFC. So, just because of cash backing doesn't mean the price HAS to stay above that level...
But, they ALWAYS come back if they are good buying, and cash does limit the downside greatly. And, they tend not to fall as much as others do.
Some other companies I was fortunate enough to buy into below cash position during the GFC were TRY, IPR, and BTV - all major purchases. But, there were many others below their cash position that other contrarian buyers benefitted from. All of them much higher in price now.
The point is, you don't worry about companies you own falling below their cash positions, because cash is cash, and provides a wonderful intrinsic value support (if not price support in the short term) to your purchase.
No one can pick the bottom of a share - if you are an investor, you just have to find very small downside risk vs. large upside reward.
And HGO has that in spades.
Y
HGO Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
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