You may recall that in October last year I had a big anti-Tesco moment. The shares went into an immediate nose-dive ( allowing for slight use of poetic licence ) and whilst I didn't brag about it at the time, I have to tell you I was feeling quite smug. I had forgotten my golden rule of investing though. Things that go right immediately invariably end up haunting you and whilst it's much less comfortable when shares plunge right after you've bought them, it's amazing how often these end up being your most successful investments. So it should not really be a surprise that Tesco has subsequently shrugged off my sell recommendation and just powered ahead. I still hate their shops, but I admitting defeat on the stock price. It was one of their TV adverts that was the final nail in the coffin. Tesco are now putting their competitors prices on their on-line shopping site so you can see exactly how much cheaper Tesco are on each product. I have to admit I have visited their website to check this claim out and couldn't actually find this function, but it's scarily aggressive nonetheless. Even if the consumer does rein in the horns, it's just not worth betting against Tesco. Boring.
New Year's resolution......to beat a certain client of mine at squash. I have been his whipping boy for too long.
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