Hi Didio, I actually started buying on 3/12@ $ 1.20 and...

Hi Didio, I actually started buying on 3/12@ $ 1.20 and accumulated 215m by4 Jan @ $.84 ave.
That weekend I started to examine the accounts more thoroughly and concluded that close to 90% of reported profits for 2015 came from value judgements, and lagged cash flow by a large margin. The value judgements related to profits on "bargain" purchases of businesses, i.e. revaluing the business acquired and producing a profit. If this happened occasionally, fine, but when nearly every purchase is a "bargain" throughout the previous 5 years, I smell a rat, no one is that good. Similarly WIP had a large profit component and in aggregate significantly exceeded cash flow. Therefore I reassessed these items and concluded that a conservative price was 55c, which became my target price. (My writedowns were higher than what was announced on 29/2.) Therefore I sold out on 1/4 @ 82c but started buying in mid Jan to 29/2 in the low 60's, but the bulk in the mid 20's in April. But by then I was totally convinced about SGH's survival.
Cheers and glta.