Yup, I didn’t exactly refer that they are a holding company, but they act like one or more of a stock trading company.
Now ask this to yourself, you are investing in them because of their core business or because the management prefers to invest the cash flows in the stocks of other companies rather than focusing on growing their core business which is seeing tailwinds currently? What would happen during bear market, or when the business starts seeing headwinds, or both of these things at the same time?
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