"My belief is that nobody can be a "value investor" unless they realize they have to be patient. It's almost built into the term "value investing". If a buyer is not willing to be patient, he/she must be something else, perhaps better described as a speculator.
This jmo, of course."
Very true and smart words. A very successful value investor I know who is now 82 years young stated that "Youth has no patience. I had no patience when I was young, but did OK. Had I had patience, I'd own 10K shares of XOM at a cost of much less than 0 considering dividends, since I bought Sirconi Vaccum years back but couldn't hang on. Mergers, acquisitions, splits, etc now = 10K shares of XOM and I invested 1K bucks. Now that I'm 82, I have plenty of patience, just no time.
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EEI looks like decent value, and has been showing up on my breakout scans sporadically since October (Higher close than any last 5 day close on 2X or more average 50 day volume). Turned out to be a good hint but I never took a bite. Now its a thin float momentum play, likely to do alot better, but tuff to chase in my psychological state of mind after last week. It has the gut feel of a stock that is going to be pushed up alot more. Receivables do constitute their entire tangible book value and still the Government Agency's are likely good payers. The last divie does instill a high degree of confidence. Neither has it moved much off a 1 year flatline chart. A move to get in here by a chunk of money all at once would cause an uncomfortable gap up though. I'll put it in the (Question mark column) along with 5,000 others. Should be an interesting open on Monday. |
