The risks of expansion have already been expressed, and the hesitation in the share price over the last few months seems to reflect the doubt that increased expenditure will lead to continued (or increased) growth.
I try to think of my portfolio these days as a collection of businesses, not just shares with share prices. The natural corollary of that is that if the business seems to be advancing, without a disproportional increase in the SP, then there is no reason to sell.
In fact, there is a limit to the amount of consolidation that shares can go through when the background business is so obviously gaining ground, and given such circumstances, I'm inclined to buy a few more IND early in the New Year. A good time to buy is often when many others become bored or have lost interest...
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