a yahoo idt post, which actually says something:
3/14/08
"There isn't a chance you know who i am unless you are sitting across from me in my office. I giggle because i have a belly like santa claus...
I am not a trading junkie....i just go with gut and common sense.
In this case, i know these guys at IDT very closely, and i know they do not act in any fashion that would make your logic stand up. Unfortunately, they have created their own mind-set that they know believe is the correct way to do things.....and that said, it may be, the right thing, for whatever they have planned.
However, the way they are doing it, made this one of the easiest stocks to short from the $12 mark.
Their core business has absolutely collapsed. They have not made a transition like the rest of the industry/s they are in; to move their minutes based business to the next phase. Tuyo prepaid...what happened with that? A couple calls back that was the savior...things were being sold to fund that business.
Selling Telecom...seriously.....who is going to buy it now when a buyer can get it for half off 30 days from now? and probably free in 90?
Drilling for oil in Colorado....although a noble concept....the company has no experience with this, and unfortunately is not a field you can just dabble in and learn from your mistakes. You can trust me on the oil shale opinion, as i know from experience.
I have heard that several business units they are trying to sell have stalled......
The numbers from the earnings call, cash, just add up to not enough to pay the irs. As much as they can sell off pieces....you still have to sell whatever it is...and buyers are just not knocked down the door there, are they? More layoffs....maybe.
It's unbelievable that the exec's can still think about their salaries and bonuses at a time like this....
I'll take a peek back in a few weeks to see if this bottoms out at my estimate of $2.80.......dont think about it, just my gut..."
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i believe he did close out his short, yesterday. |
