Don't forget to throw in IOM's dirty socks and laundry Ken. People tend to concentrate on the pig in a room full of roses. IOM had a backlog of $198 million to fill. But, if you count backwards mentally, nothing much matters relative to forward looking ideas. It's the currency, that's it. We'll stay for now with IOM's dirty laundry over the 90% of the markets bridal gowns. Many stocks that move ahead of their time is no different than dressing an ugly lady up in a pretty dress (or a cross dressing male for that matter). As long as you concentrate on the dress, the looks won't matter. IOM moved ahead of its time in going to $55, but has some catching up to do, no doubt.
In fact we used to say that about Chrysler's cars (just an ugly lady in a pretty dress) when Chrysler stock took a nose dive from $45 to $9 some years back. But, even Chrysler put it together and moved back ahead, even beyond it's old price. As long as IOM continues to do the right things overall, it's a good company. So far they're doing that in my opinion. As Benjamin Grahm used to say, "buy only good companies, not great companies". What he meant, I'm told, was that "great companies" were generally over priced , over bought, and over whored. Hopefully IOM will remain a good company.. |
