While I wouldn't claim to be a 'smart money' person, I see SUM people gnashing their teeth at the recent lows, while others see it as an opportunity in the making. My portfolio is biased to riskier stocks and the present low SUM price gives me an opportunity to de-risk elsewhere and acquire a nice longer term div yield stock. That said, it is election year in NZ and I get the feeling that a higher cash allocation in portfolios is wise as I see SUM stocks slipping lower or going sideways for a while yet.