Subject: Re: OT: Dollar General
My position is up about 45% since I bought it and it still seems like there is potential for more. It depends on whether there is visible signs that its challenges are getting resolved, which so far has been a mixed bag. So I think of most of this gain as correction of an unfairly low valuation multiple rather than because of the kind of business turnaround that I had been hoping for. If they continue to show continued progress on the bits they have shown so far, I think there should be an opportunity to double this gain. So I am generally planning to hold for at least 1 year (another 6 months) before I revisit the thesis.