Latest news is that the controversial trio did not get voted in by a large majority (87%). I did not stay back for the results because we had to wait like 2 hours for it. The registrars could have done better.
While my support is with Tan Teng Boo, here is one thing I would like to point out: He is always saying he keeps cash to wait for that moment he can get a bargain. But, in 2009, during the depths of the global financial crisis, what did he do with the pile of cash? Based on the annual reports, not much. Wasn't there cheap enough bargains then?
I have bought into ICAP around $2.60 back when it was trading at a premium, and another batch around $1.95 a couple of years ago. So I sold one batch at $2.50 to hedge myself. If price drop I can buy back cheap, if price increase to NAV I will realise the profit for the other batch.
I had remind myself
1. Do not fall in love with your stocks (I believe this is from Warren Buffett too? Or Ben Graham?)
2. Bulls and Bears make money, Pigs get slayed.
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