Hi Inferno, Thanks for that. I think I did notice their...

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    Hi Inferno,

    Thanks for that. I think I did notice their substantial share notice in WNR but forgot to follow it up with a look. Even though they are substantial in the stock, the position for them at this stage is quite small when compared to their positions in other stocks they are keen on. Maybe that's why I forgot to take another look at the time. Although that doesn't necessarily mean they are less bullish on WNR, simply could be a result of them only being able to get a certain amount of stock.

    That could be a good sign for holders, as they may possibly look to increase this stake more. In AIK for instance they were content to own about 20% of the company.

    Appreciate the reminder on this, don't really know if I'll get the time to look at it more in the short term, particularly as it is not that liquid but will keep an eye on it.

    Another point in terms of the NAOS approach, at their investor presentation they spoke about often searching for companies where perhaps the big earnings uplift may come in 3 or 4 years ahead. I think their view is the market can be asleep on situations where the earnings in the next year or two doesn't look interesting but there may be a catalyst a few years out. Remember I know nothing about WNR. But thought I would share that to see if you feel that fits in with their rationale for the WNR stake.
 
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