That's it exactly Winner. All the signs were extremely positive, trade data in the months leading up to the result indicated strong growth in apple exports and prices and my, indeed our previous strong growth comments were based on best known indicators at the time. Not our fault the actual result was slightly underwhelming. Obviously the effects of the higher $Kiwi a factor here.
For what its worth I still retain over 40% of my original holding and would be happy to revert to a stronger position at the right price and top up like I did last time at around $2.90. I don't think it'll go under $3.00 again so maybe close to $3 is a more realistic reentry but predicting the future is fraught with difficulty and this instance a classic case in point.
Still a good company with good prospects and a pretty good prospect of a takeover at some stage in the future. Like you mate and like most other professional investors we regularly adjust positons based on our level of conviction with each particular investment case as it evolves.
I'm with you Jantar, my highest conviction holdings right at this point are AIR and HLG. I hold some GNE as well but don't have a huge level of conviction over that investment story. A lot of the other stocks I hold I simply consider a hold at this point. Market is pretty much fully priced but no point having much money in a call account is there especially with dividend season almost upon us !