Xavier:
You sound pretty frustrated. Your "signing off" is illustrative of why IMPX is trading down recently. Investors who have lost patience are dumping it & using realized losses generate to offset capital gains incurred during the year.
Your assessment of Ferguson's performance is appreciated. While no one can argue with your CURRENT assessment of the situation, IMHO, it is just a bit premature, because the story is not over. If you think Ferguson should admit failure at this point, then he may be labeled a "quitter." I don't think it would positive for any investor to have the CEO managing his investment to send a signatl to the market that he is a quitter, would you?
Your comments identify an important distinction any investor has to consider. The decision to buy, and the decision to sell. Certainly, at this juncture, I would not advise anyone to invest in IMP. There's no story going forward; just recent indications that the bleeding has stopped.
The decision to sell is a more difficult one, & obviously varies with each investor's particular situation. If your're the unfortunate guy who has a lot tied up in this dog, & you think that money could be put to better use elsewhere, you should sell. On the otherhand, if your investment is de minimus relative to your entire portfolio, & you think the market has cooled for awhile, with your only other alternative investing in a bond fund earning 6-7%, then the decision to hold & wait this one out has some merit. Downside risk here is minimal.
If you fall into the latter camp, I would recommending holding, at least for a few more quarters. |
