Thank you Mr Market My broker has just confirmed that the...

Thank you Mr Market My broker has just confirmed that the selling is not coming from Kirkes. HDR and Kirkes are both based in WA and it was the favourite broker of the insiders last year. Buying or selling from Kirkes gives grounds for fear or elation. The light selling is coming from Comsec, just panicky traders chewing their fingernails, not insiders.

Reminds me of Buffets annecdote about Mr Market. Buffett attended Columbia Business School where he met and studied under revered mentor Benjamin Graham. Graham taught Buffett that the basic difference between investors and speculators lies in their attitudes toward stock picking. The Speculator, noted Graham, tries to anticipate and profit from price changes. On the contrary, the investor seeks only to acquire companies at reasonable prices. Graham told Buffett (and his other Columbia University students) that the successful investor is often the individual who has achieved a certain temperament. Graham figured the investor's worst enemy was not the stock market, but oneself. Despite one's superior abilities in mathematics, finance, or business acumen... if you can't first master your own emotions, you are ill suited to profit from the investment process. Graham was famous for helping his Columbia students recognize the folly of the stock market fluctuations by sharing an allegory he titles "Mr. Market".

Mr. Market, Graham taught, is your imaginary business partner who shows up to work every day with a price quote at which he will sell you part of his share of the business or buy part of your share. The business you both own is lucky to have stable economics, but Mr. Market quotes you a wide variety of prices. On some days, Mr. Market is very cheery, and can only see brighter days ahead…and quotes you a very high price for shares in your business. On other days, Mr. Market is discouraged or depressed, and sees nothing but trouble ahead…and quotes you very low prices for your shares. Mr. Market never minds being snubbed, if you ignore his offer one day, he's right back with a new offer the next day. Graham pointed out to his students--it is not Mr. Market's wisdom, but his pocketbook that is useful. If Mr. Market shows up in a foolish mood, you are free to ignore him or take advantage of him…but it will be disastrous if you fall under his influence.