I stuck this excuse for an investment in the bottom draw in July when I got sick of reading the same old announcements which seemed to be doing nothing to resurrect the value of the stock and instill any confidence in the management to do so. Being on the board would not allow him to buy or sell just prior to any action of this nature anyway. I cannot declare that what is about to be announced will be disastrous but many years of investing tells me that trading halts about performance are never about some miraculous recovery in profits or value. While we are seeing record highs in the ASX all ords investors in CDM have been at or near what I would guess to be a 9 year low. I know the market is not treating LICs kindly at the moment but to be at a 9 year low is pathetic. I am not going to live long enough to get out of this one without 40% losses.
CDM Price at posting:
80.0¢ Sentiment: None Disclosure: Held
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