Mermaids, page-46

"The value investors looking for cashflows and a strong balance sheet will wait, that's the camp I am in too."

By the time you feel the comfort and certainty of a better financial position you'll likely have to pay much more to own these shares.

Value investing is a form of speculation. No investment is 100% certain. It's about weighing the upside and downside amounts and probabilities. Warren Buffett said it well: "Take the probability of loss times the amount of possible loss from the probability of gain times the amount of possible gain. That is what we’re trying to do. It’s imperfect but that’s what it’s all about."