<< Scott, you are a true optimist. I for one am looking to get out the next chance I get. >>
When researching a company I write down entry price, exit price, time expected for turn around, price at which to increase position, etc. Then I stick to it through thin and thick unless there are some major totally unexpected developments.
IMHO Corel needed a few more quarters to finish digesting Word Perfect, and I was confident they would do so I bought the stock a while back. I set as deadline this quarter to show better results.
Now, they announce $96 million dollar in sales and cash balance to stay about the same, i.e. no profits in a quarter when they released several new versions.
According to my initial plan time's up for Corel. I have thus closed my position with marginal gains.
I always considered Cowpland and his management team a liability, but I thought Word Perfect was good enough to compensate for those. Turns out it isn't.
Cowpland spends too much money parading his ego with the Corel Arena, the Corel Stadium for Canadian Football and the Corel tennis tour. somebody who buys his&hers blue and pink Porsche ain't that sophisticated.
Corel also lacks focus. It is ironic that a company so long criticized for being a one trick pony is now suffering from an incredible lack of focus (I have yet to understand what for would a software company do NCs).
Last one turns off the lights...
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