MFI is a cyclical business. I think it is prudent to accumulate when the cycle is negative. This specially applies to a ultra-conservative lender like Arman.
[Unless we are a very intuitive investor and can enter right when the cycle is turning. Even in that case I don’t believe I’ll be able to go lumpsum. So it might be better to build positions over this nagative cycle]
Disc : Invested and added positions in the last month.
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