Ann: Q1 FY24 Market Update, page-52

Dude, I got some pretty good weed, but what the hell are you smoking? You gotta stay off that hydro stuff. It'll melt your brain.

You "double down" at $8.88 but then "offload at $9.18" and then put an order in at $9.00. Seriously...you're off your trolley!

Some comments about the DRP - I mentioned before that it sucked. But that's the way it goes. For the most part, I always re-invest. I don't like the way that Dicker did it, but it's not the end of the world. The pessimism is quite interesting and usually a sign that it's a great time to get involved in a stock. I made mention that the DDR result is an insight into the weakening of the consumer and the economy in general. Look at the Michael Hill result (MHJ) who released their trading update after-market on Friday, down -22% today.

It's happening folks. The squeeze is finally taking hold. All that free money is vaporising. 750 bucks a week to sit at home and bong on and pay almost zero interest on your mortgage. Let the good times roll, but all good things must come to and end. What goes up, must come down. The bigger the rise, the bigger the fall. You get the picture right?

However, I'm afraid that many of you cannot see the forest from the trees. If your revenue declines by over 10% and your profit goes down by less than half that amount, you'd have to say that there's an element of resilience in the business. What's unfolding isn't a Dicker Data structural issue. It's a much broader economic issue. I hold shares in Lovisa and every man and his dog are saying "buy". Every time I walk past a Lovisa store (like most other stores), it's nearly empty. I think that I should sell, but then I think "why not just top up when the sh*t hits the fan?" That's how I view DDR.

Crazy times are coming. I could be totally wrong. But after those crazy times pass, everyone's going to need a new computer because these things have a shelf life. There's a good reason for that. It's called recurring revenue. I also hold Breville and the worst thing about that company is that their products last a long time. But I guess that's why they can charge more and not discount their products when their competitors are selling their souls and discounting their products left, right and centre.

If you've never seen the attached link by Ray Dalio explaining how the economy works, you should check it out. It's made for idiots like myself and is one of the best pieces I've seen.