I just listened to the interview Alan did, AL3 is now on my watch list... not sure when I am going to get time to research it, but it sounds very interesting!

Nice on @Clio -- the schedule is pretty much set for the rest of the year, and it's usually hard to secure a meeting too close to Christmas, but i'll de finitely reach out and see if we can line something up for early next year.

@Strawman - I noticed this in the Kohler/Sean Ebert AL3 interview:

"you've got a factory now about to be commissioned in the US, right?

Yeah, that's right, so we have a 1,200 square metre facility with two operating production systems. The first one will go live on the 12th of December, the second one will go live early in January "

So something in Feb or later might be a good time to ask how those 2 US commissionings went and what the new facilities mean for the business going forward.

Thanks @Clio, sounds like it's worth a better look!!

Credit where credit is due @mikebrisy

(But just know I am coming for you..)

Well deserved @mikebrisy… at least until @Strawman tweaks the algorithm! :)

This might take more than a tweak @Rick.. maybe i'll just hard code it so that I will forever and always will be #1!! ;)

Would love to hear Scott Phillips at the next podcast introduce our esteemed leader as the #2 for Strawman.com

:p

Thank you@mikebrisy. I thoroughly enjoyed your presentation today. Well done!

I found myself nodding a lot, but also got some great new insights along the way. I love your buy hold sell diagram.

Source: @mikebrisy presentation

My approach is very similar (value focused), however I have learnt over time to play into the momentum a little. Selling down CBA shares is a good example of this. Based on valuation alone I would have sold it all long ago. So I’ve been selling in a number of small parcels along the way playing into the momentum. There is also the opportunity to sell more on the way down, although that seems harder to do psychologically.

This also applies to the BUY side as well. On valuation alone, I often start buying too early as the momentum can definitely take the share price much lower for longer. I know @Solvetheriddle says it’s hard to serve two masters, but I think if there is momentum it’s wise to recognise it and use it to your advantage. I use the MACD to assist with this but it doesn’t always work for me! Still learning…forever learning!

Keep up the brilliant work Mike!

@Rick you are right i said that. the concession i have made is a nod to momentum in that where i would have gone full in at say 15% return but poor mo, now i will put a tracker position in, then wait to see if i get 20-30% return then add to full position over time. same selling on the upside. so a lot more staggering sales and buys than going all in. as retail investors we can do this, why not take advantage of it, i think it is one worth using.

i am convinced you will get opportunities as mo at times moves stocks too far in each direction

good luck Rick

I like that approach @Solvetheriddle

Thanks @Rick , I enjoyed it.

I really enjoyed your McNiven session earlier in the year, and @Solvetheriddle 's last year, .. and in fact all the times StrawPeople that have stepped up to the plate.

I definitely encourage others to give it a go, and I am going to attend @CanadianAussie's - even though I heard the short version live in Birsbane last week, but I'd had a couple of beers so I'm not sure it got my full attention!

I also went back to @DrPete's on $SGI back in 2021, even though I didn't act on it until 2023. A good example of where it's not to late even if you miss the first 2-3x! There's a goldmine in the CEO interviews as well, and it's great to be able to go back over the recordings. @DrPete get's the prize for the idea that has added more $$$ to my RL portfolio, so far. Although I think @Nnyck777 is going to prove a winner in the medium term!

On momentum, you make a good point. There is no doubt my returns would be higher if I tempered my decisions a little more by that. I am doing that in part. It's one of the "Decision also depends on ..." factors on the slide, although not listed explicitly. For example, I would like to hold more of $IEL and $AD8 based on valuation today, but for both, momentum is holding me back, and I am keeping powder dry for both when things start to move. Equally, with $DUR, after our discussions earlier in the year, I waited, waited, and waited, and then pulled the trigger. So, good call, I should have made more of that in today's meeting. I just haven't codified it.

Just reflecting now on this, it is perhaps an example where not being Humble (i.e. being Arrogant), believing my own analysis too much, has led to me pulling the trigger hard on companies I believe I know well, like $WTC and $TNE. In both I have made big moves, almost with a "I know better" mindset.

So, yes,... we have to keep learning!!