Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi Team, I hope this message finds you well. I wanted to inquire about the current status of CTD. I recall from your recent commentary that there were plans to cut this position. Do you not anticipate any possibility of CTD returning to or exceeding its MM entry price, thereby delivering share price growth in the medium term? Best regards, SK
Hi SK – we took our medicine on CTD and sold this week dropping 20% which detracted -0.8% from the portfolio performance. We should have cut this earlier. The ALERT is linked.
Regarding returning to or exceeding entry price, we don’t have this in our process when investing. We focus more on assessing the best use of our capital on any given day i.e. is CTD our best use of funds or have we identified another more compelling option. We don’t believe anchoring decisions to buy prices is a profitable habit over time.
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