SM1, page-492

@qwerty179. How could I possibly be tempted when SP is in decline and at a new 2 year low. Madness!

But lets say you are holding a gun to my head. First thing I would say would be "please sir can I buy the bonds instead. Even though they are subordinated and unsecured I know I will get a return of 4%"

I looked at the supply chain the other day. SML - A2M - China State Farms. And I got to wondering why A2M announced humanitarian donations which only mentioned 2 players in the supply chain. Why not include SML?

The SP is now at a new 2 year low (NZD$8.31) so Sure as heck am not going to be tempted at that level. Lets assume there is a further 15% downsize risk with poor accounts and Supreme Court act. That gets me to $7.00. That level is a gamble so I am still not tempted - because margins and costs could be really bad ( we already know banks are nervous)

I could be temped to put a buy order in at NZD $6.50 - but reserve the right to adjust downwards as more fact comes to light.

But really what would I?. Its about opportunity. And wht would I want to put my money into a poorly performing company. It makes no sense.

And before the cyber bullies decide to hit their keyboards in apocalyptic rage heres a chart which show SML is hovering around Oct 2017 levels. I see nothing on the horizon to reverse this trend.