TRS chart, page-80

I would be very surprised if TRS's recent share price moves are anything more than shareholders mulling the following questions:

- If private equity hasn't made a bid by now, there must be something wrong (BTW, if I was private equity and was looking to make a bid, I'd be doing whatever I could to keep the price down before the bid. There is a huge amount of private equity money around at the moment so for me, a takeover is still a strong prospect);
- If the share price is going down, someone with inside knowledge must know something, and given I've made good gains I should sell out before it goes down further.

Neither of the above is likely to be true, but having patience and conviction when it comes to investing is easy to say and hard to do. TRS is a retailer that has seriously got its act together in the past 12 months and has some good momentum on various fronts (incl supply chain/DC, HK sourcing, store roll-outs, merchandising etc) that bode well for a strong next 18 months. Best to take Didak's advice and turn off the stock price updates...(if only I could bring myself to do it ;-))