I have a fund manager friend whom I catch up for dinner once in...

I have a fund manager friend whom I catch up for dinner once in a blue moon. I told him about my portfolio containing 6 shares and when I told him what the 6 companies were he said my portfolio was ridiculously risky and not diversified enough. I told him I prefer capital growth and happy to take some risks over proven safe blue chip dividends, he recommended I get into 3PL. This was 3 weeks ago when it was still around $1.20 mark. I had no cash to spare at the time so decided to wait for my next pay cheque to arrive. Boy am I glad I didn't have any money then as I would have surely lost some cash with recent SP hammering. I note Macquerie has upgraded the prospect to outperform last few days and my fund manager buddy has recommended 3pl but I studied the latest company news and I see nothing in it that gives me reason to buy even at today's price. Is there something I don't know that Macquerie and my fund manager buddy know? Or is this another case of 'as long as a company doesn't go bankrupt, what goes down will come up'. I have some cautious hope that the new CEO can turn things around and 3PL will certainly go above a dollar again. Many who few years ago thought Qantas was heading for a disaster were proven wrong when Allan Joyce managed to turn things around.