Many of you know me as a regular and long-term investor of KKL, championing its future and potential. Unfortunately, as all long-term holders are aware, it is just that, potential.
I have been reducing my position in KKL over the past few months to around half to limit my risk and will continue to do so when the right opportunity arises. I have not received any replies (poor shareholder engagement) nor has there been significant news since the acquisition. KKL can claim (as they did at the EAGM) that SEA announcements must receive approval and progress is slow but compared to other companies I have invested in, KKL is astronomically slow. In 3 months, I have made a 50% return on another investment. In over three years at KKL, I am breakeven.
I have been patient, riding the dips and taking profit where I can but I cannot say that patience always pays off, especially if management does not have the confidence of shareholders. Hope has given away to despair to frustration and resentment.
My three of four years investing in KKL have been a valuable lesson which I will carry on throughout the rest of my life, with the first step of action being a reduction in my holdings to reflect the faith I have in the ability of the management.
Who knows - tomorrow a killer contract might come out but don’t hold your breath.
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