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... why buy these?
I was fortunate to sell a fair slice of my core holdings at the end of Jan [why oh why couldn't the government AND the DoH see what was obvious to a rubbish ex-biologist who dropped it 43 years ago over the moon to get a 2.2???] and have been topping up bits and bobs that I hope will not be too badly affected when what I guess is the true economic situation becomes really apparent. Trying to keep some in hand for that possibility. I don't know how that comes across as a stratagem!
Why PTRO? I'm no accountant but am happy to see Simon Thomson and Rivaldo - both of whom I listen to (and ST was recommending it at 49.5: it's down a long way) - positive on it. I'm amazed at the institution list, though I note Rathbones sold down a tad in mid-April. I note that I've spent most of the last few weeks staring at my phone. I've bought my food online for the first time: like many others I am shielded - but can you find a slot?! I tried Waitrose and they were booked up as far as I looked, nearly into August! I've got used to using the phone for far more, and I think others will have too. This may be a road of no return, our phones may really become essential to us now for more than just calls, as opposed to being just useful. The world is changing. So I'm wondering if anything that helps companies get and retain that elusive and precious customer will become essential. Pelatro.
Plus I hate little red things on the list, down huge percentages and worth very little. Sell, or top up? I hate to sell a company I believe in, especially when a comparatively small input will almost double the number of shares. I can't compare it with 200 other possibilities... and don't want a portfolio of 200 anyway... How's that for strategy?
This is what the company said in their March Covid-19 update: "It is not yet clear how widespread the virus will be, how long the pandemic will last and what the short to medium term effects of this pandemic will be on the behaviour of our customers; however, [SELF PROTECTING PREVARICATIONS, NOW THE MEAT:] the Directors believe that the telecommunications industry is likely to be less affected by any economic downturn, whether local or global, than most, particularly as certain telecoms activities tend to increase in "stay at home" periods such as end of year holidays and festivals such as Christmas and Ramadan, generating more user spending and more targeted marketing. At present the message we are getting from our telco customers is very much "business as usual"."
Bit the bullet.