Point well made
@chad987I don't put this profitable, debt free stock in the class of a non profitable tech selling at a multiple of sales. BUT.... if the FUM leaved the door in a big way, earnings will decline and the same result is achieved.
The current torrent of negativity and series of bad events is the ultimate test of a funds management business, its people and its process.
I have my hands seriously bloodied buying heavily around $19 - $21. Today, have been loading up with much greater force as I believe this stock is hugely oversold and now entering panic selling mode after HD announcement this morning.
I believe tomorrow may see an even greater wave of selling as retail read about the action in morning papers. Day 2 of a sell of is usually very deep and swift. We may see $15 handle.
I have taken some of my SYD off the table to raise cash for today and tomorrow's action. Curiously, I have little fear at these prices and have been prepared for this moment. I believe we are in a time when serious money is either made or lost, with the outcome made known 6 months later.
GLTASH
(20min delay)