Why not? To me, this particular holding isn't an investment,...

Why not?

To me, this particular holding isn't an investment, it's a bet. It took me a long time to learn the difference, but I've come to the conclusion that spec small caps are almost always a wager. That's not me having a dig at management - it's just that there are so many variables that one can never know which can sink a small cap in short order. Even with the best of intentions - and I do believe that management has the best of intentions in this instance - it's still a bet.

So I'm leaving my money on the table, and hoping that all of the good outweighs the bad and that I've put my chips on a winner.

But I'm under no illusion that that's definitely going to be the case. There is every chance that this will tank. It's a race between profitability and bankruptcy - red and black. I've bet on black.

Either way, I go into it with a healthy, well-diversified portfolio that only contains one single solitary bet.

I hope we all win.