RE:Will any portfolio manager Will any portfolio manager
still want to be seen owning this on Dec 31st when his year end portfolio will be published ?
Well, there still seem to be a few, but yes, it's a guess as to how many. Selling seemed to be stteady right through the period so I guess the rest are to be grateful that the price has held up as well as it has. It's certainly a good business, as good as when I was in a long time ago (stepped aside last January before the big run-up so I missed that) but the metrics still seem to be high at 5x book and 16x cashflow never mind earnings, so I won't classify it as a good deal yet. But it's back on my radar.