This reminds me of BHP in 2015., page-7

As one of many quite successful resource industry investors, it is amusing to observe the razor sharp predictions of the future on a stock that has been in decline for only 12 to 18 months.

Precious metals, REE, nickel and U3O8 investors know what a genuine bear market looks like. Try 5 to 8 years of pain, knowing that the investment cycle will eventually come your way in its own time, not the time frame of any investor, big or small. It builds mental resilience and the basis of investment success.

There is little value in highlighting too many examples here, as industrial based investors seem to have a time horizon far shorter than those in the extraction industries.

It is hard to make 10 or 20 baggers quickly, but surprisingly easy with a 10 year time horizon and the belief and courage to invest when not most have bailed out.

l have my full of MFG, having only invested for less than 6 months. I expect to track the response of management to their situation and the broader direction of investment markets, which l expect to be much lower in 2023. I will respond accordingly with my capital.

l don't need to see green the day after l take a position. Sometimes my investments never go green. That's the market and human error. But high conviction investing relies more on positioning than timing. On the quality of management, secular trends and future needs and forces.

l expect to hold MFG for 5 to 8 years, if it goes to $10 for the wrong reasons l will add more, this year or next year l don't care.

There will be a price at which a management buy out or merger or takeover will be imminent.

Profitable debt free businesses don't wither and die as some foolish posters here suggest.

Everyone must make their own call, based on their own strategies, risk tolerance and time frame. Don't get sucked into the incessant noise of HC, good or bad. Much of what l see is complete nonsense coming from faceless posters behind a keyboard with nothing better to do with their time.

Some may accuse me of being one of them, yet they have no idea of my position, just as l have no idea of theirs. It is irrelevant unless you take action based on it.

My investment strategies are boringly simple after l have framed my long term views on an industry, a company (business) and a management team.

I have learned very little from HC posters except those engineers and geologists holding resource stocks who really do share quality knowledge. In those forums, l shut up, because l understand they know more than me and l want to learn not preach.

DYOR.

GLTASH