Cameron... i have changed my screen saver to that of a helicopter to remind me re yr original observations. I agree that CSV seems overly cheap but:
1) The stk was temporarily suspended and CSV asked to provide explanation re court (and perhaps other) issues.
2) We are 5/12 into FY11 and 5/6 in 1H11. Surely-to-God if ever there was a opportunity for CSV management to clear-the-air and provide accurate guidance... it was at yesterday's AGM. I would love to have been there and grilled CEO relentlessly.
So (despite lacking total conviction) i have increased my holding by 150% over past several days at an average of about $1.49. My original portion (which thankfully i reduced when contract with Fujie Xerox blew-up)cost $1.865. Hence overall average of holding is $1.615.
The figures for FY11 look ok. Those projected for FY12 are exceptional. In a nutshell i have kept these based on the CEO's address this morning. If down the track CSV announces a 'surprise'... then i'll pay dearly. In summary: medium risk/high reward play over next 12-18month. Divs help as well.
PS. Have been watching cricket am surprised to see hit $1.36 during the session.
PPS. am only kidding re screen saver but maybe i shouldn't be!
Add to My Watchlist
What is My Watchlist?