the lynas london whale/s, page-36

Lambda,

Ok mate. Look not everything you said jives with me but I can understand your viewpoint.

You are wrong about investment cycles and about how the asx casino so to speak has ruined long term investment for everyone. You still are associating price with value.

I have a family friend who is still holding 10000 cba shares. Some he got on the float at $5.40 then some he bought at around $6 a short time after. That's 60k he spent. He gets fully franked in excess of 40k pa in dividends.

He said to be he will still be holding (or his kids) those same CBA shares when it goes ten times again. I can already hear the raucus laughter. But in 1993 when CBA just started out, I can imagine anyone suggesting CBA would get to $75 one day would be laughed out the room.

SO I say you are wrong but that I understand your view. If your thesis is 5 years for Lynas, the day to day gyrations shouldnt concern you. Mate if I told you what each cent up or down gains or loses me your hairs would stand up on end.

But that daily noise is not why I hold investments in shares. SHares are businesses. Businesses exist to pass profits down to shareholders. THe ASX is a market that merely brings buyers and sellers together. This is the attitude you need to have in my opinion.

Cheers and good luck. I hope you got the Endaxi reference. I just am assuming (maybe wrongly) that with a name like Lambda you would have to be Greek.