Sloeb I’m glad you have done well out of PES. Similarly as yourself, when others were dumping their stocks during GFC I did the opposite and bought several stocks which I considered to offer huge potential. So for example, recent drop in LYC hasn’t bothered me as I bought these for <20 cents. I think entire stockmarket has a bad case of short term thinking. If you scan through various posts on this forum you will see that majority people (my guess would be around 90%) have a fixation on short term performance. It is this obsession with gaining quick returns by investors, including investment managers is largely responsible for increased manipulative trading and resulting high volatility of stock markets. Even large institutional shareholders turn their portfolios, on average, every six months. This obviously places an enormous pressure on corporate managers with any missed earnings projections or expectations leading to sharp stock declines. Unfortunately, this also leads to lower investment returns. I have several friends who have strongly embraced this obsession of short term trading for the last 10 – 12 years (full time). Have they done better - well I can proudly answer this as definitive BIG NO.
MTE Price at posting:
54.5¢ Sentiment: Buy Disclosure: Held
