Well, that's not entirely true... At least I am buying. Big time!
Perhaps I've been buying your shares>:)?
Agreed, PCRV is not for those that want to be able to get
in and out of any position immediately, since volumes can be very
low. But then, that is not so strange given its market cap of only
some $60M. Sometimes there is some patience required in making
some money!
And it's probably not for the short term either: the 'volume'
buy-burn-sell crowd is out by now. But I do believe that this
company has great potential.
With PCRV right now you should not forget that it is trading
at little over book value, a serious discount to the group.
Add that there are no fundamental problems with PCRV. They made
some non-strategic mistakes and missed some numbers. Oh my!
But they're in a fast-growing market, and long-term growth of PCRV
is 35%/yr. The expected 1997 EPS is $.35, and I think management
will go to great lengths to beat these estimates, after the problems
they have created (for the shareholders/themselves, that is).
ALL THAT is what is creating the huge buy opportunity here. All in
my humble opinion, of course.
The wait is for some good quarterly figures - and these could well
be this quarter's - and you'll soon see this 'junk' trading at a
more respectable price/took. Like perhaps 2.5? You'd end up
with $10, at least. Not a big consolation for the people that
bought into the IPO, perhaps, but pretty good news for others.
It might sound contrarian, but I believe that buying into this
company is almost a no-brainer, given the industry it is in, its
growth rate and its comparatively very low share price. Just
compare it to, say, Documentum or Clarify, and you will see that
this company is not just a buy - it's a screaming steal!
Gee, I must sound like a true believer. Ok, ok, I'm biased...
Anyway, if you haven't sold them yet then I'd say hold on to these
$4 bills just a little longer if you can afford it.
And then perhaps send me some fan mail this month in a year...
-Alex |
