hmm, actually not very sure, but the answer to your question may not be company specific but investment process specific. My approach is,
it really does not matter, we will never have clarity on all issues in all businesses and by the time the clarity emerges, the stock price would have gone up. Companies where there is clarity, like Page few years back, are rare to find and when we get such opportunities many will be found sucking the thumb.
In PI case, there are two options, govt. will interfere and govt. will not. By the time we are sure that govt. will interfere, price would have gone up 5 times and then since govt. is interfering the price would fall by 40% but even then you would have made 3 times the original. Now, if the govt. does not interfere, you are left with 5 bagger and still to go…
The above is how I’m thinking…
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