Sometimes fundies also have no clue the indication that Australian super was reducing its CRN exposure provided the green light to average down my own exposure. In these distressed situations the urge to exit amongst the federation of people involved - the portfolio manager for the subject stock, the other portfolio managers in the investment team, the asset consultants, the senior management - can be too great to resist . And, do not forget, it;s not their money ! This OPM effect translates to a detachment from the (poor) decision. There will be plenty of Australian Super operatives that will contend that they did the right to sell when they did. Did they make contact - as I did- with the senior management in advance of the sell decision ?Probably not. An institutional shareholder selling out at the lows can be a major bull-point.
CRN Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
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