Intelligent Investor doubles its money on Photon punt

When Intelligent Investor Funds bought 5% of Photon Group while the share price was dipping down to 3c in August, a commenter on Mumbrella predicted:

“These guys are either absolute genius’s or total idiots – time will tell.”

At the time, Steve Johnson from II Funds conceded: “It wouldn’t be the first time I’ve looked a total idiot – happens to most fund managers on a somewhat regular basis (which is why most of them rarely stray far from the index …. looking like an idiot when everyone else looks like an idiot is much more palatable than looking like an idiot on your own!)”

However, his brave course has paid off, virtually doubling the investment in five months.

Yesterday Johnson informed the ASX that Intelligent Investor Funds was no longer a substantial shareholder in Photon, having sold last week while the share price fluctuated between 5 and 6c – virtually doubling its investment in five months –  and was no longer a substantial shareholder.

Photon agencies include BWM, BMF, Naked Communications, City PR, Frank PR and The Leading Edge


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