My investment style is long-term strategic. The current share price is by and large just market froth. This is a great company, with a sound strategy, a proven management team in a growing and expanding market. Everything else is largely irrelevant, including the dollar.
You only need to look at the market trends, an aging affluent population; growing use of established keyhole surgery procedures (quicker, safer and more cost effective results); wider adoption of keyhole techniques to new procedures (e.g. general surgery); economic pressures on healthcare providers to move towards 'day case' provision.
The share price will tend to move to either being above or below what can be taken to be fair value. It gives you the opportunity to either get in or get out at an acceptable price.
The short term investment approaches essentially require you to try and second guess the market and avoid un-expected events (such as Dollar movements). The hair trigger investment style doesn't suit me, I've tried it and I cannot make it work.
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