TK Journal 2020-06-27

Great anal­o­gy from Ralph Wanger in the bold at the start of this piece from Straw­man.

“[There’s] an excitable dog on a very long leash in New York City, dart­ing ran­dom­ly in every direc­tion. The dog’s own­er is walk­ing from Colum­bus Cir­cle, through Cen­tral Park, to the Met­ro­pol­i­tan Muse­um. At any one moment, there is no pre­dict­ing which way the pooch will lurch.

But in the long run, you know he’s head­ing north­east at an aver­age speed of three miles per hour. What is aston­ish­ing is that almost all of the [dog watch­ers], big and small, seem to have their eye on the dog, and not the own­er.”

The ‘dog’, of course, refers to the dai­ly move­ment of a company’s share price, with the ‘own­er’ being the under­ly­ing busi­ness. And we ‘dog watch­ers’ are, depress­ing­ly, guilty as charged.

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SFR passed it’s 3PTL buy price yes­ter­day. I have added it as a Buy to the watch­list with a QAV score of .20

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I also raised a price alert in SD for the SFR price if it goes below $4.86 as it’s 3PTL sell price isn’t too far below its cur­rent price.