PME is a pain in the backside V, the boys in the garage manage small accounts for all the daughters mates, just $10k from their parents during covid when they were hanging around the garage, set up accounts in Comsec with idea to introduce them to the market to understand the power of compounding etc etc etc, an exercise in awareness of financial independence if you will.
At 21 all monies go back to parents for their (the girls) benefit in whatever form that will take, daughter little bit different she won't see any cash till 25 but her acct little bit larger and the boys actively manage it, she's pissed but she's a bit like her mother, not truly happy unless pissed off about something.
We made every account the same for daughter's mates, can't do much with $10k and if you show favouritsm through difference the pack will turn on you and rip you to shreds, teenage girls can be vicious little units.
Took the scenario to the investment group at the time for advice, just after couple of cornerstone stocks maybe 1 or 2 ETF's and a speccy to trade. All agreed PME, MQG with speccy TLX. (this coincided with Ammie pumping TLX in STT few years back, she was a dual jersey holder at the time from memory so a pump by an 'STT dual' got TLX over the line.)
Thought PME was overvalued at the time (around 40) but did put it into the girls accts although the boys have never held in the garage's investment account, a daily reminder of how unnecessarily cruel the bourse can be, it's become the lads voldemort stock, 'he who shall not be named', although that's bloody hard to maintain when last week all the girls just happened to be in the garage to coincide with the 10% daily gain, the daughter's pip squeals are unsettlingly enough but when all 6 girls go into a pip squeal as one the result downright frightening, scattered all wildlife in the surrounding 5 km radius, even the cockatoos on the rail seemed impressed by the sheer decibel rating.
In saying that notice Citi came out with a sell rating with target price of $100 during the week and few other brokers downgraded from buy to hold. Either Citi want to buy more or maybe PME getting a little bit ahead of itself.
Read some analyst on market index making an argument sometimes some stock are NEVER too high to buy (in relation to PME), when you start reading articles like that you know it's time to start reducing % of PME in portfolio, was a seller on friday to get the girls back to 15% of their portfolios, analyst was some young bloke who crossed the line into 'complete tosser' mode, not understanding the distinction between 'the noise of immediacy' and the 'reality of time'.
Although I would say that never having held in the garage's investment account.
Talking about junior bio's interesting chart below arguing you really should not invest in any till phase 3 trails at the earliest if you believe in 'certainty of outcome' and mathematical truth.
Phase 3 micro's? OPT, IMM maybe DXB as a roughie? I'm sure there must be a few others out there?
My pick OPT, lads moved to WL recently. (already hold small position in IMM, don't ask)
Overall good week for the garage (exception AQC but got out with only minor flesh wounds)
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