With an extra 1.59% for S&P/NZ50 gravy pot is slowly but surely shrinking wonder if 90% institutional holdings reached yet ??
Oh dear, oh dear
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Reducing stake by 1% ie around 500,000 shares , which is just reducing what they added to stake recently ( 1.2 million as per winner's calculations ) does not signify too much bearishness at the moment ...maybe they think they can better utilise these $ 7 million . Its still in top 5 holdings at 11.4 % of increased fund size of around 475mil . But they did mention return to normal will take longer then expected which can mean problem for second half optimistic targets of 1.1 billion revenue !!
America always was and still is the biggest bully in the world “always for what was supposed to be the right reason”.
Since the Chinese are destined to have the biggest economy in the world, they are starting to flex their strength. Starting with Australia a firm ally of the US. It will only get worse once they take over as the largest economy which could be in 2024 apparently.
We all know what bullies don’t like and that is a bigger bully
US has huge potential for A2 -- just starting there