Excellent post 5hareholder. Good advice and a great appraisal of Conti's sustained & sustainable business growth profile. I'm well into the oppies, so my timeframe is 2+ years. I wonder what conversations we'll be having in 700 days time?
Here are some thoughts from my favourite stock expert, Lance Spicer, who has a formidable track record of investing success:
"The only way to value a business is by fundamental analysis - technical analysis is complete nonsense and you may as well read tea leaves or consult a shaman as use it. I have never heard of any Merger and Acquisition or fund manager worth his salt ever use technical analysis in anything other than to exploit and speculate in intraday trading. Yes, technical analysis has its place but only as a short-term guide for speculation and trading - it has no place in long term investment. We are long-term investors - not day traders. My skill set is firmly entrenched in accounting and business analysis - it does not extend to guessing what might happen based on the past, which is what TA is all about, but I digress.
Investment strategy has to be based on 3 things:
1. Fundamental business value and inefficient market pricing (Value investing)
2. The potential (or certainty) for further business growth (Growth investing)
3. Patience and Discipline (the ability to use the market's emotions to your advantage)
That's all there is to it! Pretty simple, and people tell you the stock market is difficult to make money in ... humbug!"
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This is an extract from the 12/1/2011 weekly update Spicer provides (sorry I'm unable to provide a full article link, due to copyright restrictions)
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