Here's a rule to follow. Always be prepared to break your own investing rules, although not too often perhaps. Some time ago I wrote a blog about why I tend to avoid investing in companies that have recently listed on the stock market. However, a fellow investor whose track record and investment reasoning I have found to be well worth listening to, brought my attention to a fairly new issue - Fishing Republic. With a healthy degree of scepticism, I carried out some research on the company, and liked what I saw.
Subsequently, I bought shares in the company for 17p in October 2015. As ever, I wasn't expecting fireworks in the first few months, particularly since the company is a fishing tackle retailer. Not very sexy really. What attracted me to the company was a solid balance sheet, a modest valuation and a low market cap.
In less than eight months, the shares have rocketed forward and at the end of today, they stood at 41.5p. If you'd have asked me at the time of buying into Fishing Republic which of my holdings is likely to more than double in the next year then this one wouldn't have been listed in my top five. In all the time that I've been investing, I've learnt to accept that this can often be the case though.
I'm certainly not complaining.
You'll notice that the FISH bulletin board is nice and quiet with one or two lone positive voices and probably a few more negative voices. No surprise there either.
Thanks to the poster Norbert Colon for bringing Fishing Republic to my attention.
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