I find Myer a lot less risky than 90% of the market.
Revenues have been flat and consistent, with 1 - 5% variation and have not bee in constant decline.
Profits have been inconsistent, however the business has not turned a loss the past 3 years.
The business is not subject to a commodity price or FDA approval.
While you're right that it may not turn around any time soon, I really don't think there will be a run on Myer. I think competition has been much the same for the past decade and there are no new threats.
I can sleep sound at night holding this stock as there is underlying value there. Yes it has been a falling knife for most of this year, but purchasing stock at anything under $1.50 in my mind is good value.
I'm a long term holder and value investor and I certainly don't get caught up in week to week fluctuations.
MYR Price at posting:
$1.34 Sentiment: Buy Disclosure: Held
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