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Quindell: Buy, sell or hold? The answer will NOT surprise you

Tom Winnifrith
Sunday 29 June 2014

On 15th May I asked whether Quindell at 20p (300p in today’s money was a buy sell or hold? I concluded that the odds were that 20p (old money) was probably the right price but the truth was I did not know. It was not a share one had to own. In light of a series of new facts, I have changed my mind and my target price is now sub 20p ( new, post-consolidation, money).

My conclusion in the first piece you can read HERE was:

So if you hold the shares do you carry on holding? Well again if you say that you have a 80% chance of making 10% and perhaps a 10% chance of making 100% + but also an outside chance of making MINUS 95%. Is that really the best home for your money? On a risk reward basis there have to be better homes.  This is not a stock one has to own. As a cautious soul I think I’d rather sit on the side-lines and watch events unfold until there is more clarity one way or t’other. 

So what has changed?

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About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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