I believe you are correct in your thinking. Sun is a good example, it has ample brain power, ample cash, little or no debt, an important customer base, some vision for the future, (right or wrong, we won't know until we know) and everybody hates it. But you must remember that the haters were at one time the lovers. Its easy to love at 100 and easy to hate at 2.75. If some of these folks are so brilliant why were they not haters at 100? Sun is basically the same Co but maybe better now with a leaner profile and a ton of R&D behind them.
I did buy Sun a little to early, however I made up for my mistake in this low area. After it came down from the split highs of 80 plus, I thought the twenties looked pretty good. Who could know that 9-11 was just around the corner?
I note a great deal of frustration at times with Sun on this board, but one must remember that big companies with great mass, like large vessels or trains, take time to change directions and get back up to speed. I started investing in equities as a teenager, following in my fathers footsteps. I am now 68 years old and I have a few stories to tell.
Thanks to all I enjoy your posts
Peter |
