Scott,
I'll join in on the chorus. That was why I bought in---the intact management team that had achieved such marked success in 2 previous ventures.
Although people often put money into a stock because of momentum, or business sector, or price/earnings, etc., investing in a stock is, MORE THAN ANYTHING ELSE, an investment in that company's management.
Poor management can take a dominant company in a sector with tremendous potential down to bankruptcy, through misguided and foolish moves. Top-flight management can even turn around a floundering co. in a poor sector and make it a winner.
This time around, the situation faced by Pedersen, Blue and West (now on a part-time consultant basis) is much different from what it was in their two previous ventures. This time, the prices received for products are much higher. But, because of this, according to McLauchlin (the CFO), sellers are asking ridiculous prices that would make it extremely difficult to make much profit from acquiring their assets.
This means that the principal means that Pedersen/Blue/West used to grow their past two ventures (namely, shrewd acquisitions) is not all that available this time round. So results this time may turn out to be not at all comparable to what they were able to achieve with their two previous ventures.
Still, we've put our money on some of the most successful jockeys around.
Wait and see--------
Hickory |
