Adrian Paterson denies he is a huge fan of UK retailer Sainsbury but says his overweight position in...
Adrian Paterson denies he is a huge fan of UK retailer Sainsbury but says his overweight position in the stock is for contrarian reasons. Paterson says the retailer has been a horrible performer for a number of years and the stock's shares are really reflecting the continued negative attitude towards the company. However, he notes, Sainsbury's property portfolio alone should provide a floor on the price of the stock, limiting the downside, while the market may soon re-rate it as a recovery play. "I've been buying the stock, not the company," he states. "I bought shares at £2.70 about 1...
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