Jim,
Wondering if you could give "doing" small cap airlines a try and tell me why Mesaba is a bad investment?
BTW, I bought back into Case at nearly what I sold it for (46 1/16 vs 45 15/16. That there are now two press releases put out by NH/Fiat indicating a close by October is very significant to me. I tried to believe the first one as the stock fell. But now that they've come out and reiterated, and did so because the stock price was getting out of hand, I'm more comfortable. There's an article in the current Barron's on how many risk arbitrageurs are taking a break, and how current spreads are at historically high levels due to the lack of interest in arbitrage. No mention of Case.
Speaking of medical stocks, starting to delve into Hanger Orthopedics (HGR). I think their massive acquisition is causing buyers to shy away unjustifiably. Prosthetics and orthotics can be a lucrative business with historically good reimbursements. And they are a consolidator in a fragmented industry. They have always been mom-and-pop (or father-and-son) shops, but now Hangar is consolidating, with large scale centralized manufacturing that the industry hasn't seen before. Thanks to high speed autos, construction, farming, diabetes, and longer lifespans, the industry can grow at least 5%. And I don't think it can be obsoleted with ease. Still evaluating it myself.
Mike
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