Yea I this is what I wrote when the market was 5% higher than it is right now:
"In my book Fiducian is a reasonable buy at $1.70. Just watch out below if the market tanks, because at that price, the margin of safety is not what it should be for a funds manager."
I've been selling for a while but I sold the last few shares today. Nothing like some solid market falls to give you that sick in the stomach feeling about holding an illiquid ASX correlated fund manager.
I'm sure tougher value investors think I'm a moron, but I believe that the company I bought today will outperform Fiducian. Mostly I value an ability to sleep at night.
