Stick it out

Finweek English Edition - - MARKETPLACE SIMON SAYS -

I have writ­ten be­fore on how I had bids in the mar­ket to buy some of my pre­ferred shares and one of th­ese was Richemont*, with bids start­ing at 9 800c. As the stock had moved weaker, a num­ber of read­ers con­tacted me ask­ing if I was low­er­ing my bids in the mar­ket. The an­swer was no. I had de­cided that 9 800c was a price I was happy with and I en­tered bids from 9 800c all the way down to 8 500c. As the stock was fall­ing, I didn’t try and sec­ond-guess where it was go­ing; I left the bids and as such picked up more Richemont at 9 800c, 9 500c and 9 200c. Is it go­ing lower? I have no idea, but th­ese are prices I am happy to pay and I still have bids at even lower lev­els. I like the share and pan­ick­ing as it drops de­feats the pur­pose of bids in the mar­ket.

Is it go­ing lower? I have no idea, but th­ese are prices I am

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