Yes indeed percy .....as Balance would say ...always good buying at $1.06
Just shows we are not entirely blinkered eh and can recognise improvement that maybe is sustainable.
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I bought a few a couple of weeks ago at $1.03 (with so much negativity I had to!). Perhaps I should have bought more......
My understanding is that the retail shops planned in China do not carry the risk of a traditional roll out of retail shops.
MVN has a partner in China, this partner takes the responsibility of the real estate, MVN responsibility only goes as far as stocking it with their products.
So no commitment for leases or even rent. Not a common business model I am aware of.
Pleasantly surprised by result my pessimism was unwarranted - mind you as a long term hold I've been used to disappointment.
I wouldn't look into it too far there Percy. The great John Maynard Keynes once said "When the facts change, I change my mind. What you you do sir?"
I have had to make a few calls like this myself this year and just remind myself that there is no place for ego in the market. Back yourself when you see a good entry and don't be afraid to sell if your wrong :D
With MVN, all I need to see was:
FA - a good result, a upbeat forecast and the last 3 years of good dividends
TA - a solid support area (will now be $1.05), no down trend and positive price/volume action today.
= Low downside risk, good dividend and potential for further upside (looking forward to the AGM update Nov)
Yes I totally agree with your post.
You must change your mind when the facts change,back yourself, and sell if you are wrong.
Simple really,!!
But putting it into practice takes an open mind.
Looking good depth...not many sellers....plenty of buyers?..
Hmmmm. Looks like asb securities not working.
Oh well...anyone missed out? Managed to grab some this morning...after hours of reading thier presentation and Percy on board...what could be wrong?:D