@Rocketrod @Karmast, I bought far too much of this business a few years ago because it looked like a quality businesses trading on a low multiple. However, the RoE dropped away from over 20% to 9% last year. Going forward it looked like the RoE would improve to somewhere around 14% and it started to look really cheap on a valuation basis, so I held on to it. Like @Karmast I was looking for an opportunity to part ways and find a better quality business. Fortunately, I held on to it. Sometimes you can get lucky!

Held IRL (4%)

@Rick Well done. We should all take the luck wherever we get it!

I think around a similar time to you, I took a starter position in $SLH ($2.09). But as I held it and started to study it more deeply, I wasn't that impressed with what I was learning at the operational level. So, I exited it ($1.85).

SM trades say I only held for 6 weeks. I think it wa a few months in RL. Didn't make or lose much.

Funnily enough, before I sold, I thought this one was more likely than not to be rolled up by someone. Still, never a reason for me to hold a small position.

@mikebrisy Just looking back at my previous straws on SHL it looks like I took my first nibble IRL only 12 months ago (seems a lot longer!). Our average cost price was $1.64. I can’t complain about that for a business I was keen to part with!