People buying are the least informed retail mugs, a scary sample of which post on HC. It's called compulsive gambling while telling self "I'm being Buffet like, greedy when others fearful". The difference with Buffet is that he only makes investments when he is very highly informed and knows why.
@SGH buyers:
- New to the stock "instant experts" who have heard of the Slaters name, think it's "cheap" a "what goes down must come up" kind of investment philosophy and Slaters too big to fail and certain that "all lawyers make money"
- Utterly deluded long term holders (still pre-Quindell mindset) averaging down
These kind buyers rushing in all the way down @SGH.
The price has been falling gently since the dreadful Feb 29 news (down 69% over 3 days) and had few upward spikes along way, and may have some more, thanks to strength this retail mug effect and usual market noise.
Someone earlier posted brokers now calling the stock "sh@t on a stick". Similar to worse views in the legal fraternity about prospects survival based on Slaters staff morale and looking new jobs. Who wants to work for a deeply-indebted and loss-making law firm that is making news all the wrong reasons? DYOR on this topic. I can only imagine buyers here recently haven't done this kind of basic research.
For long term holders something to think about ...
