I agree with your thoughts.
Having averaged down, I am now down around 24%.
Have had mixed success averaging down in the past! Sometimes have done very well, while other times been chasing a falling knife.
But when I look back, it is the companies with dept and questionable management have been the failures.
PGR has neither - and the retail sector is prone to takeovers.
Ann: PGR Half Year Results Announcement, page-5
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