Bear Stearns sounds like they are assessing a furniture retailer.
When GBLX dropped from 64 it was because 'it was no longer an undersea cable company', and them that could not take the heat got out of the kitchen.
Management is key to every player in this field of telecommunications. Without getting the extra connectivity by way of FRO and Racal, GBLX would remain a wholesaler in a retailers' market, letting the others make the big margins. This management team can succeed, and perhaps that fact has escaped......no, definitely that fact has escaped, the author at Bear Stearns.
This is no market for investors that want 'nice, secure investments'. GBLX is however, the nicest, most secure investment I know of in this game. Because its management knows their stuff, and I don't expect too many to understand that until too late for them to get on.......takes one to know one, maybe that is why the author at Bear Stearns cannot see it.
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My own take on the drop in price yesterday and today is my usual perception of market fundamentals. Yesterday every stock I track got hit, and GBLX just did not get hit hard enough for the market makers to cover their positions. So today it got hit harder, down ~11% for the 2 days. Can it be kept down? I do not believe so, and thoroughly expect a rise to 48 and stability at that point, prior to the end of this month. Just my speculation, and if it does not come to pass I will lose no sleep. About 35% of my port is in GBLX, so that is saying something, IMO. Martin Thomas |
