We bought GMG a touch early in its 22% correction from late December highs, the stocks proved far more correlated to tech / growth than we expected. Our position is now close to breakeven as the $25 area feels the next likely objective for this quality operator. We may consider trimming this holding around such levels due its current characteristic but we are unlikely to abandon ship altogether.
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Performance update for March, stocks that drove returns & our current positioning
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Wednesday 24th April – ASX200 +17pts, Silver Lake (SLR), Kogan (KGN) & CPI
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Market Matters Research Lead Shawn Hickman with David Koch
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Wednesday 24th April – DOW +263pts, SPI +27pts
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MM is bullish GMG around $23
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