HSN at 3.07 Hansen pitched sharply lower on trading update announcing bit of a set back. Bought 2,000 @ av 2.98 a couple of days back. Not a chart based buy. Current modest rally might be a bounce that will give way to lower price. Current price feels fair value without margin of safety rather than cheap. Energy, water, telecommunications and pay TV biller growing by acquisition. Desirable stock that posts decade ROEs ranging between 15% - 22 % and steadily growing book value. Low yield. No long term debt. Hansen family runs the show and has big stake. I occasionally take notice of analyst/commentator Rudi Filapek-Vandyck and he included HSN in the list of "all weather stocks" that he came up with during the global financial crisis. I have heard that he is not a current supporter though because of earnings uncertainty. Here are the rest on that all weather list, some haven't been faring all that well lately, but they've been selected against the criterion of supposed reslience during macroeconomic shocks and business cycle downtrends: Ansell, Amcor, ARB Corp, Brambles, Carsales, CSL, Domino's Pizza, Hansen Technologies, InvoCare, Orora, Pact Group, Ramsay Healthcare, REA Group and Technology One. Others on the cusp of making the grade include 1300 Smiles, Cochlear, Dulux, Healthscope, ResMed and Pacific Smiles. HSN Decade Mthly