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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (36706)3/18/2010 1:50:50 PM
From: MCsweet  Read Replies (2) of 78774
 
LOAN update,

I was disappointed in the earnings report (flat on the quarter, minimal buyback), so I continue to work down my overweighted position.

I think good news could take this to near 2+ book value, but the risk/reward at 1.40 is not as compelling as it was at 1.00. And who knows if/when good news might come out.

On a side note, when I called him up last year, the CEO was very confident about his company and (owning about 50%) is definitely eating his own cooking. But the CEOs don't always get their own stock price right.

MC
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