Yesterday I made my final purchase for a full holding (book cost 2.5% of current portfolio value) in VDSI and broke two of my most basic rules in doing so: RS is bad (down about 22% from the 52-week high) and it has a huge short position (about 45%).
So it’s a gamble and I deserve to get slammed. It seems the question on the table is whether banks will stick with it or start giving the eye to some pretty competitor. Just love the fundamentals, but still, it’s reckless behavior.
Currently my holding is up (after the latest purchase) 25%, 53% annualized so at least I have a cushion. I’m not asking you to wish me luck because I don’t deserve to receive it. Heigh-ho. Let’s all raise a glass to human frailty.