The thing that struck me during the Q&A session was the myopic focus of the broking analysts on the current "noise" in the wealth management industry. Some of the questions concern such arcane minutiae, that I often wonder what analysts actually do with the answers they receive.
I am sure the strong "recency" bias evident during the Q&A would have been manifest in the notes that those brokers sent out to their clients this morning.
The herding instinct of broking analysts is a great ally of the value investor who is able distil that which is relevant, from the great many pieces of information that are totally irrelevant.
I have been adding meaningfully to my holdings today.
IFL Price at posting:
$8.84 Sentiment: Buy Disclosure: Held
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(20min delay)