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Well done Peter2, as we know playing a different game to me, but thats a good result for your processes.My regret is that I didn't buy much more agressively based on my strong conviction that a very wide divergence between price & value had opened up. You dont get many opportunities to swing at fat pitches like this and part of the art of investing is having the patience to do nothing for long periods of time and then make big bets when these opportunities present. The trading update was not really much of a deal, just coming in over the upper end of what had been a disappointing guidance - but I think Mr Market had priced it as if more bad news were expected, so the strong rise in price reflects the realisation the market was wrong about the business.
Well done Peter2, as we know playing a different game to me, but thats a good result for your processes.
My regret is that I didn't buy much more agressively based on my strong conviction that a very wide divergence between price & value had opened up. You dont get many opportunities to swing at fat pitches like this and part of the art of investing is having the patience to do nothing for long periods of time and then make big bets when these opportunities present.
The trading update was not really much of a deal, just coming in over the upper end of what had been a disappointing guidance - but I think Mr Market had priced it as if more bad news were expected, so the strong rise in price reflects the realisation the market was wrong about the business.
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