I'll post some more later on but i am always keeping a close eye out for SIP just out of habit and interest. Interest to hope back on that is. I've followed it for a very long time and its wonderful to see it doing better at last. At many stages during my 2 years of holding SIP shares there was no definite future for the company. I was sitting on a 70% loss at the worst of it but through a stream of luck averaging downs and sneaky trades i was finally about to jump out with a small profit if you include the special dividends. I consider myself very lucky because i started buying at +$1 and was able to come out of it a little richer but more importantly a little wiser. This company seriously sent me to hell and back multiple times but in the end that is what investing is all about.
The reason SIP interests me is that i think that nothing can get much worse for them. They finally have a board that have the shareholders interests at heart and are devoted to turning the company around. They are now very specialised with a much more attractive financial position. When you compare SIP to its competitors and the current SP for the company you just cant help but laugh at how undervalued it is. This is my opinion but i think that SIP is going to be a company to hold on to for serious growth even if the market is crap, over the next couple of years. I also think that the company is going to start paying dividends again(im predicting that its going to be reasonably generous relative the to current SP) which will make it even more attractive to everyone especially the institutional buyers. I have never been so positive about this company and can't wait to get back on board with as many shares as i can afford. Just waiting for a little weakness.
I dont intend to ramp, but SIP has been through so much and the strength behind the company's share price only indicate one direction left for SIP and thats UP....
It is important that everyone buys for their own reasons based on their own information because SIP is always going to be exposed to risks surrounding the tightly regulated industry.
Good luck shareholders,
GC
SIP Price at posting:
37.5¢ Sentiment: Buy Disclosure: Not Held
