The Margin had time recently to reflect on the probable medium to long-term direction of the Telecom share price. The opportunity arose when attempting to get a telephone number in the Channel Islands, by way of using the Telecom 1197 service.

A recorded voice announced that the call was being queued and would be dealt with shortly and so, while the Margin waited and waited and waited and waited, there was ample opportunity to reflect on the likely impact on Telecom's income of hundreds, possibly thousands of callers queuing every day for the privilege of speaking to a Telecom employee engaged in running one of the company's services.

When the line, after a long, long time, went dead, the Margin decided the shares were definitely the ones to buy - especially when a second call resulted in exactly the same experience!