Been an interesting ride. Bought in late August. Felt like a genius for a few months. High beta downside unfortunately through U.S meltdown. Didn't recover with the market and then profit downgrade. Been relentless selling.
Slight bounce with Horth gone but short sellers/disenchanted long-term investors possibly fleeing in pure fear again recently.
Surely Ho is pulling every string possible behind the scenes. Had good info major insto holders had backed Horth hard until final nail. Ho will now have their backing so let's see how his activism plays out with more control. Bellamy's was maybe an easier fix than the ultra competitive telco sector. That's the worry. IMO sale price must be >$420m for credibility as it's the elephant in the room. Especially being close to debt covenants and no known ASC customers.
Decent NZ price, clarity on next stages of recovery (future asset sales, CEO appt, some macro telco positives) and we should see some SP reprieve.
I was thinning on top before vocus. Now I'm heading directly to advanced hair with Warney..
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