Wright Sullivan: thanks for JOE info.
I'm one of those "poor lost souls". Poor and lost because I've been following JOE on and off for 25 years or more and never took a position.
Recently started looking at it yet again. And with today's news, I have actually stepped in and started to buy some of the danged thing.
Imo, these real estate owner and developer companies (non-REITs and non-dividend paying) should be bought with a 5 year holding expectation at least. Although with JOE, it did very well in 1997 for thread readers who purchased at about this level (20-22) and saw a runnup to about 35. Began right after Jim Clarke, I believe, posted on JOE about their new start to unlock shareholder value. And from today's news, reinforces their seriousness about doing so.
Since these companies are mostly specific to one geographical area and we have seen some recessions/booms that themselves occur in specific sections of the country (and that affect local real estate prices in those sections), it's possibly a good idea to be diversified among these companies. (Unless of course, someone were an expert as regards a specific company or a specific area of the country.) I now have small positions in four such companies. CDX, strong in California, is one for example, where I'm intending to add to my small stake.
fwiw, Paul |
