CKF has a spot in the portfolio LT. However I can't say that I'm a buyer at current prices. I was buying as much as I could but I'm now priced out.
Buying at $7-$8 made sense as it gave me margin of safety considering the normal vicissitudes of the market. CKF is a wonderful business but its not worth an infinite price..
I assume you mean DMP. If so then I'll say the same thing it is a wonderful business but its not worth an infinite price. I must admit I sold out pretty early. But then again who would have thought the irrational exuberance on that one could propel it to $167.
If it gets to the $41.50 - $35.50 range, I may be persuaded to buy some back. It is good to note that consumer discretionary is not a large holding of the portfolio compared to Financial, Mining and AG/Staples and I would prefer it to stay that way for the foreseeable future.
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