High PE in a bear market will raise eye brows for any intelligent investor right now. Personally this has only just entered an accumlation zone for me but my buys are small - I anticipate a continuation of scary headlines for the rest of the year really. I am increasing my cash reserves overall but happy to average down in small parcels to hedge against the possibility of being wrong but I am only buying compelling offers. There are plenty going around right now.
PME is a well run business, no debt, proven record and the future looks bright - I think this is priced into the current share price and that should leave holders with a degree of confidence.
In the aftermath of the GFC many quality companies had share prices in the realm of 80% down. Those good companies that come back have gone on to create truly life changing gains for those brave enough to buy in. There is a good chance that that opportunity could be present in PME.
PME Price at posting:
$16.65 Sentiment: Hold Disclosure: Held
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