good position, page-36

'I too only hold heads now.'

That's an interesting one isn't it? I've read a good number here have been doing the reverse - selling down the heads to buy options - and I have to say that I think we'll look back and say in retrospect that that was the right thing to do, yet I'm not yet convinced that the added risk is worth the potential premium.

Just taking stock for one moment: SBN is arguably in the best shape it's ever been in, and the world in which it operates is slowly coming around to its vision, yet the SP is at a virtual all-time low. All this makes the stock (IMHO) a screaming buy at these levels. Nonetheless, shareholders have been consistently disappointed at the speed of progress on just about all fronts. Is this the company's fault or unrealistic expectations on behalf of the investors? I don't know, but what I do know is sometimes great things simply take time, but when they do happen they can happen very quickly.

As a consequence I'm in boots and all, but I don't see the point of setting an artificial time limit it coming home.