After some back and forth, I have parted with $TISG (-0.07%) . In my view, the sinking of one of the yachts and especially the management in the aftermath of the accident created new risks that I didn't want to take. Instead, I opened a position with $REC (-0.2%) which I have been flirting with for some time. It's a much more defensive investment, but I don't think that's wrong in this market phase. The company's latest reports read like 1a, and I think the recent price setback is a good opportunity. In the long term, I think pharma is a solid investment anyway.
