Hi BHS. At this moment I figure there is nothing valuable that I can add that would make particular sense to most. So I want to refrain from offence and tit for tat. I've had 2 suspensions which proved a great holiday, no less for my sanity but also my productivity.
Similarly, there isn't a lot I could write here that can help people. That is proven. Why fight the tide? I've got my own race and 11 opposing opinions to my 1 might not make them right as it refers to my outcomes. I've got a plan and I'm sticking to it. Sure, as things change one needs to consider alternatives.
The regurgitated cereal box advice is not my bag baby. It's being delivered here in spades without anyone, I repeat ANYONE discussing or acknowledging the elephant in the room. Mudguts has had a crack perhaps, another...was it upmarket??? Good poster there
People claiming they are buying at the bottom. Pfffft. Picking up 1500 shares at 79c is of no consequence at all. Not trying to be rude but it isn't a gotcha moment you get to claim later for picking a low. Look at the bid:asks and tell me how much you'd pick up if you entered now to buy say $100k. Then ask yourself if that $100k bid was hit, would you be allowed to...as the hamsters hidden in the computers quickly pressed reset so your bid didn't get filled or removed them up the line. Anyone here with experience hitting these types of bids? Not trying to be condescending, but see the bigger picture. Look closer. And once and if you answer this...it helps you move on to the next question.
There's a question worth discussing there...
I have my thesis and I'm sticking to it. Timelines change and ppl must have contingencies to adapt. I've made mine and altered to suit. OC's not coming off gave me greater opportunity to increase stake %'age wise. Very happy. Sell even less later on.
I've made my money from bear markets, but I won't pretend to say that I don't have a sense of trepidation while I'm living in them. But bear markets aren't payday time. You each have to run your own race and either believe your thesis or back out.
Another fwiw...stop insinuating there is selling. At the very least look at selling another way.
A) if there is selling, why is the top 20 not decreasing?
There is a question worth discussing there...a serious question.
B) and if the answer sits with you suggesting that the poor punter is selling in this environment (I won't say "dumb money, that would be rude) then i've really got nothing to say. Why would you be worried? Do you follow George Soros or the patsy he's buying from?
Another question...is there even selling at all, even from patsies? That's a real question, not a trick one. Knowing the general (experienced) level of shareholders of PEN I'd say most patsies were bled out long ago.
I'll let others chase that rabbit down the hole. I've got my opinions.
Is the current market malaise a good chance to achieve other goals?
Another question....
Would you prefer to list into a global bear market, and have less retailers with an appetite for PEN? It's those that will actually give you your top line market cap. Insto's won't set it...they want value. Play that convo out.
Or would you like to see us list in an upward moving market. PEN has been defying it's true value for some time now (in my opinion)...what's a bit more time of any concern?
Another way to look at it. Don't ask how the sausage is made...just eat it when it's ready.
That's it for me. If you feel the despondency hits a critical moment, just take a breath and look at fundamentals. Sentiment comes and goes. Answer the questions above and you'll discover your money is in a very safe place, imo.
Even if I was to be overly critical of my investment in PEN over the past 12 months...I'd still say that it's actually been a safe haven and great preservation of capital versus other investments.
I'll restate my thesis one more time. PEN will have an enterprise specific re-rate in my opinion unrelated to U price improvement. But it is my opinion only and you can take it or leave it. I don't say it to be stubborn. I'm still a buyer, I can't hide that fact unfortunately. But I'm very confident I can seperate my emotions from my money. If I couldn't...I would hardly be a buyer.
Advice, if any...is dig deeper.
And if I AM allowed to cross promote (and I seriously mean this), my advice is to get out and see Mr James Reyne again. 3rd time last week and truly an opportunity to rock out out youth one last time for us ageing gen x'ers. I'm going to Alexandra Hills (QLD) again for 4th time if any takers? Mudguts, take a small drive south to blow off the cobwebs?
Great way to pass the time away PENNER's...that and make money outside of PEN. There is so much opportunity out there today you should be salivating, not commiserating.
See you on the dance floor. I'll be the one with a 'yes I can stacy' t-shirt!
Cheers
Gav
