I appreciate you engaging in good faith, it is rare around here...

I appreciate you engaging in good faith, it is rare around here and makes the effort of posting more valuable.

However, I entirely disagree with you re-director purchases. When material amounts are involved, they can mean something. When directors are worth $50m+ and they tip in ~$50k, it's 0.01% of their net worth and is a meaningless indication on what they believe the true value to be but is rather a strategic demonstration to shareholders to show a buy signal.

My theory holds true if we look at how their insignificant buying has affected you.

WPR is still a sell for me, however my return hurdles are very high and when holding an equity position like WPR has got to have an IRR of 20% plus. It'll probably deliver high single digits at today's prices but with a reasonable risk of a huge downside event. Just not a bet I would take, however for the average shareholder probably OK.

My hurdle for QRI is lower than WPR because it's not equity, but at today's prices it's far from where i'd buy and is probably close to fair value for a mum and dad shareholder.