“When the facts change, I change my opinion. What do you do, sir?”
On January 4th, Next (£NXT) released a largely negative trading update that catapulted them into the public consciousness. Not a day went by that I wasn’t offered an article discussing the fallout from this update, which led me to think about the likely apocryphal quote from John Maynard Keynes, written above. Like any sensible investor I am led to ruminate on one of my worst performers of 2016, and whether it may now be time to throw in the towel. So, have the facts changed?
Continue reading “Where Next for £NXT? A Valuation.”