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Sold half my Smiths a few days ago…

Original post here https://deepvalueinvestments.wordpress.com/2015/12/28/smiths-industries-large-conglomerate-discount/

Price has risen about 50% making it a much less attractive idea.  They are also considering aquisitions – something I instinctively dont like.

Although I am not much of a chartist – it does look toppy to me, so time to take a bit of money off the table.

It is tricky to know when to sell something like this – I still think it could be worth another 30% more but the question is how long will it take and will we get a fall in the interim.

It also should be remembered that c20% of my ‘profit’ is due to the fall in the pound as SMIN is a big overseas earner – so again there might be more to make here.

Far from a conviction sell and I am definitely leaving money on the table for the next guy.

 

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