I want to truly thank everyone that has participated in this forum. Yesterday, I sold the last of my Loral investments. I got 77 cents on the dollar for my former Cyberstar, and before that, Orion, bonds. Through the "devaluation conversion" of the bonds a couple of years back, I wound up with about 66 cents on the dollar of my original investment. That is by a long shot the best return I have got on a Loral security, with almost complete wipeouts with my Loral common, G* common, Loral LEAPS (ah, yes, the heady Readware days) and G* bonds. Owning Loral/G* for the long-term has been a complete disaster, yet I have been fortunate to outpace the market since I began to manage my own portfolio in 1998 despite Loral being a nice chunk of it. I feel really bad for the people who made Loral stock the majority of their portfolio. I have certainly heard that many people have been financially ruined by heavily investing in a company that seemed so promising, yet failed so miserably (to date). However, the build it and they will come approach did not work for a variety of reasons that have been explicated to death on this board. Sure, Loral could have sold out years ago and we would have made a small profit, but Loral gambled and lost trying to realize its vision. It has been a pleasure and an honor to have participated in this forum with such fine people.
Take care,
Steve
Click |
