Ann: Change in substantial holding, page-40

hope you and imback got some down low - i got some about 1.50 but sold at 1.70 as got a bit nervous!! as i was thinking how hard to raise funds it would be down the track -world looking more normal in markets but one wonders how!!


They always say a new bull market climbs a wall of worry though -as in it goes up and people cant work out why - I tentatively called it on that really bad capitulation day (23rd March i think) , but thats all I could do -tentative , and i still am -but what gave me some perspective ( the next day or two i think it was )was going back to gfc lows and indexing that for retained earnings and we ended up with about 4400 which was near the intraday low that was hit! In theory I should have indexed that gfc low by inflation as well and you would have a higher figure!