Don’t play games

Finweek English Edition - - SIMON SAYS -

Now for a les­son I seem un­able to learn, but which I will pass on in the hope that oth­ers can learn from my re­peated mis­take. Late in 2014 I de­cided to take a small stake in San­tova, a lo­gis­tics com­pany based i n Dur­ban. At t he time it was trad­ing in the mid-260c with a few large sell­ers (large for this small stock) lurk­ing from 280c-300c. I de­cided to go on the bid at 258c and lower to tr y and get in a few cents cheaper. Af­ter two months sit­ting on the bid the stock has ramped up to 315c – an all-time high. My try­ing to save a few cents has cost me dearly, and the les­son is sim­ple: if you like it and want to own it, pay up rather than play games.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.