UK: At half the price it's twice as good a buy as it was.

Alistair Blair discovers that revisiting previously discarded investment ideas can prove to be a valuable discipline

Investors should build up a reservoir of investment ideas based on the shares they nearly bought. After kicking yourself for missing the winners, cheer yourself up with the losers. This is not an idle diversion. Casting through old ideas will occasionally turn up a share whose price has halved (or better) despite no serious deterioration in the fundamentals. If, upon further inspection, you are convinced your original rationale remains intact, you are staring at a share which is twice as good a buy as it seemed in the first place.