Sheila, I sympathize with you regarding the drop in price, because I too was holding IOM before earnings along with a handful of May Calls. But, if you thought IOM would be fairly priced as high as 16 at the end of '98, why didn't you sell when it became more than fairly valued a year in advance? I know that may not seem like a fair question, but did you even consider selling when it was pre-split over $30?
You say that at this price IOM is "grossly undervalued" according to your valuation model, which if I'm not mistaken, on the high end would be ~$12.60 after Q4 earnings. If grossly undervalued is presently 15-20% below your fair value, how would you characterize the stock if it was now back @ $16 or approx. 25-30% above your fair value?
"If I were the smartest DR. in the world and I came to the office in jeans with a nose ring and a tattoo on my arm, I'd have a hell of a time convincing my patients to follow my advice."
Come on Dr. Rothstein. I may be weird, but if I needed a procedure for a life threatening ailment and had to choose between some idiot, smooth talking, well-groomed DR., or the "smartest DR. in the world" that you described (I am, however, assuming that by stating he was smart, you were implying that he was good at what he does except for appearance?) you could even add that he smoked stogies and rode a Harley ;)
There are a lot of other companies out there; however, even Rocky can't seem to be able to part with this one. The CEO is part of the package. If he doesn't make money in the future, PR isn't going to help. Just for thought, does anyone have any suggestions for a replacement CEO? Larry Ellison?
I'm glad you are voicing the opinions of yourself and others, but dwelling over how things were said @ the CC doesn't seem becoming of a long term investor. Were people buying stock at levels they expected the company to be at at the end of '98?
Please forgive me,
Chucky
P.S. Any suggestions on how to study for Biochem? |
