Ann: Trading Update, page-23

Far be it for me to advise others on how to invest given the shockers I have had this year but the best advice I can give to new investor is to look beyond the last 12 months to get a real perspective on the company and it's forecasts.

I first invested in Oct 2014 at $0.60. That year RXP delivered me its first downgrade 2 days before Christmas which sent the price to $0.32. It took until July 16 to recover to $0.60. The all time high was $1.00 in Nov 2016. Since then downgrades have been its stock in trade.

So really, it's not the 3 so far this year but continually for years. Every time I could have gotten out for a profit I thought, they must have learnt by now. Surely I can have some confidence in the forecast and stuck with it. Every time I have been wrong.

If you are keen to invest for 4 years for a negative return of 12% and a couple of divs you have found your ideal stock. I am just grateful the market is so used to it now that it hasn't been belted back to $0.30 so I could throw in the towel with most of my money in tact.

The record here is beyond disgraceful. Whether it's the company or the industry that makes meeting a forecast impossible, doesn't matter. Only the truly brave will bet against more bad news to come.