Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
re WSA: We bought this stock following your purchase in November 2020. I clearly recall someone suggesting that stock should be held until at least 2023. This evening, following your note regarding IGO and WSA I looked for the stock in the growth portfolio. Couldn't find it. When did you sell it and why is there no mention of sale? Beverley H
Hi Beverley,
MM actually exited Western Areas (WSA) on the 10th of November 2020 with a portion of the monies being reallocated into an at the time depressed Commonwealth Bank (CBA). I cannot imagine we would ever write that a stock should be held until a certain date because as we all know stocks are fluid and circumstances change all the time, especially for the cyclical miners. However the great news is you’re still long and WSA looks well positioned to test $3.50 as Independence Group (IGO) circles. If we held, we would continue to hold.
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