Ann: Change in substantial holding, page-9

Thanks for your thoughts.
I don’t think my selling or sentiment is going to affect the share price so I have no qualms mentioning it here. I think the retail component of rbl is pretty small and there doesn’t seem to be much interest in these threads.
I’m two weeks off a 12 month hold anyway so I’ve got a couple of weeks of deliberation. My biggest issue is with valuation. The vast majority of my portfolio is in companies with relatively clear visibility and valuation metrics (which generally makes them more expensive than I’d like), but rbl is hard to value hence it jumped >200%. I don’t tend to like trading frequently but his one just seems to be a bit ahead of its self?

I was wondering how others thought about the valuation? When I bought it seemed cheap: price to sales of less than 1, but now the PSR is >2. I think the market is pricing in 30% growth for the next few years which is hard to maintain.