Broker Data, page-32

@johnnyfiasco - this is very true. Anyone trying to do well in the microcap space by buying undervalued shares before the masses and institutions will have periods when they think they were wrong or missed something. Often you buy too early.

The best returns I've ever made have seen me question my judgement on numerous times. On those, bar 1 occasion, I've always been down on my money at several stages (sometimes for long period). I re-check my research to make sure something fundamental hasn't happened. Ultimately my biggest mistake on those previous ones was that I didn't back my research enough and I never bought enough of those shares (and I was generally younger and had less spare cash so I ended up being more conservative).

In the case for CM8. I've always been up as I picked up a large parcel at 16c. I then bought a large parcel at 20c. I then participated in the sub-underwriting and picked up another large parcel at 25c. I haven't sold a share yet. I have my target price for when I plan to sell a small parcel to recycle some capital and will let the balance ride until my next higher target.

I haven't changed my assessment of CM8. In fact my view has only strengthened. Whilst I would love for the re-rating to happen fast, I'm also patient. And I've definitely backed my research and conviction this time with a large bet. CM8 is currently the largest holding in my portfolio, and I expect it to be my biggest return and I view the risk as extremely low given the earnings. I am comfortable holding through any dips.

I'm convinced that the increase in price won't necessarily happen overnight, but that it will happen.

Cheers
Marv

DISCLOSURE: I hold plenty of CM8.