Hair on FireLots of that around here. And i empathise- it is not irrational. But here is another take. I have always thought the management of this company is questionable- they have a remarkable talent for unforrced errors. And their timing for doing another one is impeccable.
But the asset base is so solid, and they manage it well. Maybe the WGL acquisition- at least at the price paid- was questionable. But it is more solid well run assets. And I got into ALA cheap... so in my books that more than compenstates for the possbile overpayment.
Easy for me to say- because I got in cheap. This is kind of brutal- but it is the same for the bulk of you that did not get in cheap. Maybe you should not have bought ALA when you did- and you no doubt wish you hadn't. But for better or worse you didn't, and here you still are.
So really, the question for you is the same as it is for me. Its a $22 dollar stock- and nobody knows where the bottom is- but do really think it is going to stay down here indefinitely? It could of course- but how likely is that?
Its not how much you paid- you can't go back there. The question is whether you should abandon this $22 stock.