With Skaaptjop too, there is no bad time to buy when prices are at this level. Is there downside risk, absolutely - GND could easily fall another 20%. Its PE is still around 7 or 8, and my prognosis is for flat earnings at best this year (see some of my previous posts. However, where it takes a knock on shipping, its other divisions are growing stronger every year - and that is why I believe that GND is a good buy - because shipping will pick up again - maybe next year, maybe the year after, and GND won't post a loss (their shipping contracts in 2010 puts them firmly in the black). So you could wait for it to fall further, but hten you run the risk of missing out at this level. Me, I am happy with these prices, so I have added - but not the full allocated amount I have put aside for GND.