Personally I am invested from 87-90 levels, however this was from a time where our homework wasn’t completed - and it should be termed as an aggressive bet!
Today the homework is completed - we need to see Management walk the talk - execute on the ground for a few quarters, before we can be completely confident. We found Management to be very transparent and sincere in what they are doing.
But the stock ran up way too fast - some 20% if I remember correctly within 2-3 days of publishing Management Q&A - and we did not find enough Margin of Safety to recommend from those levels - this thing was entirely avoidable if we were careful enough to publish the Reccos within the same weekend as the Management Q&A.
Lesson learnt - but a costly one at the cost of the community. We will make sure we don’t repeat the same mistakes whenever next we are seriously considering a Recco!
For the VP Public Portfolio - Margin of Safety comes first. Everything else is secondary. There is a lot of responsibility that goes with that TRUST - we have to work harder to maintain that trust.
Hope folks will understand.