Undervalued Artisan

L - What I have to say to the people who invested at much higher price levels, ages ago, before my time here, is that we are now in a quite different situation. ART is a tale of two shares, the 'then' and the 'now'. 'Then' has no relevance to 'now' other than in terms of the heavily depressed sentiment, 'now'. For me, that spells 'opportunity'. For those who arrived at 20p, that spells disappointment. In their place, I would do one of three things - 1. Sell up entirely and move on. 2. Tactically increase the stake to be 6000 divisible and treat it as a small carried interest (ie 20p lost and circa 3p salvaged to maybe become 6p later). 3. Aggressively increase the stake (6000 divisible) so as to materially average down. I am not telling anyone what to do (their call and we all have to do our own research) but I have followed all 3 paths elsewhere, many times before - while the wider markets were in wholesale retreat from 2000 to 2003. 1. is painful, but the pain goes away faster, when you are 100% dis-associated and you get the CGT relief. 2. may work, but there will still be (the 20p type) niggles. 3. is only available to those who have the cash to do it and it also breaks many of the golden rules in the book. People must review their own strategies and elect to sell, hold or grow their stakes based on the envisaged price to earnings and assets now, and not then. p.s. - could you please edit your last post to remove the large blank gap, thanks, steve