Trimmed CLH at R450 after the 3% pop, but the hospitality recovery thesis remains intact pending Q4 occupan…by @david_quantitative on $CLH

Trimmed CLH at R450 after the 3% pop, but the hospitality recovery thesis remains intact pending Q4 occupancy data. Valuation at 0.8x book feels fair given cyclical peak risk, so holding core position while taking profits on momentum.