Roger Montgomery, page-126

"SUre Sharleen,
We visited the company today and are currently very comfortable owning a piece of this business for the next several years.
Of course, however, that does not mean the share price will always go up. Indeed it call fall 50 per cent or more! Liking a business and its prospects does not mean we can predict its share price and certainly not the share price over a few weeks or months (or even years). Valuing a business and its prospects is one thing (and we can be wrong) but predicting share sprices is another entirely. We are no good at predicting share prices so we don’t bet on share prices. They could halve or worse. One of our favourite businesses (not currently owned) is ARB. Its share price has risen from $3.75 ten or eleven years ago to nearly $14.00 last year. This has been in line with growth in intrinsic value. Within that ten year period however, there were periods where the share price fell 40%. If you are not prepared to see shares fall by 50% in the short term, even for the very highest quality businesses, you should not be investing in the share market. Be sure to always seek and take personal professional advice. Read the important warnings and conditions of use here at the insights blog and also at the beginning and end of the TV shows you like to watch."

Interesting post from montgomery website in light of recent findings, i was under the impression they were still holders.