Car crash, page-7

They followed for many years a successful but sustainable growth path ... and success can be like a drug inhibiting the normally applied caution and care. The market seems to think that City Farmers was too dear (and / or that they have problems integrating this huge and dear retail business into their so far successful vet business - and who am I to call the market wrong?

The share price pattern certainly does not look flash - typical head and shoulders - and it keeps trending down.

Pity - I think the business idea is really good, but obviously you can ruin everything by buying too dear. Altmann-Z doesn't look flash either (2.30 is for my feeling too deep in the "grey area" between "rock solid" (>3) and "high risk of default" (<1.8).

Decided that it might feel better to watch this share for a while from the outside (and just sold out). I haven't written the company off yet, but the risk appears to be in my view at current out of proportion given any potential reward.