Lee, you want one tranche in because there’s no guarantee that 100% of our stocks go down. However, if they did, that’s what 2nd and 3rd tranches are for. One never gets fully invested without downtrends from their original entries to a 2nd or 3rd tranche.
When we enter a stock, it’s already at a fundamental bargain. The 2nd and 3rd tranche just make them, more so.