I'm not sure why it has to be a competition. You have assumed...

I'm not sure why it has to be a competition. You have assumed that I am pushing the WWM barrow, and you are telling me that I'm making a big mistake.

You may be correct, but you certainly don't know. The only thing I'm certain of is that if you never take a calculated risk, you will never get anywhere.

I thought it was a reasonable spec, for the reasons I've mentioned, and that's it, a spec. Spec shares defy reasonable analysis, they trade on exactly the factors I've mentioned.

If you wait for certainty, you usually end up buying when everyone else is selling.

So it fails and I lose. Yawn, believe it or not I have actually done that once or twice. I've also held on to shares in the face of trenchant derision.

One of those was Fortescue at a few cents. There are others too.

Name anyone who has made serious money without taking risks. Your risk tolerance is apparently lower than mine, that's just fine.