Ann: PFS Update Delivers Outstanding Results, page-25

When you’ve got outsized positions in a stock like Emh (I have) you want to be vindicated with good immediate returns (I do), but if it doesn’t happen, as has been the case recently, I’d rather be in a stock with limited downside and very considerable upside even if it takes time to realise this. Momentum buying is for fools because you can be caught out any time. This is a stock that frustrates the impatient because management don’t spruik it, but I’m confident it will be considerably higher ($2-3) in a year’s time and don’t have to worry about the bottom falling out of it because it isn’t reflecting the long term fundamentals