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Strategies & Market Trends : Turnarund Investing
NOVS 0.0666-16.0%Aug 1 5:00 PM EST
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To: Covenant who wrote (816)4/30/2012 4:19:12 PM
From: thatsnotluck  Read Replies (1) of 1876
 
<<Do you think TBET will turnarund? It currently sells for 30 cents and the CEO has offered to take TBET private for $3. Management has similar trustworthy characteristics to other pink sheeters, like NOVS.>>

i had two Chinese RTOs last year that also had pending, non-binding management buy outs at above market prices that went dark and stopped trading fro extended periods of time. last i looked both has re-opened for trading, at a price well below not only the buy out price but also the much lower pre-halt price.

i suspect that someday there will be one or more of these where the buy out actually happens, but there is a pattern there that makes me uncomfortable paying any additional tuition to see them through.

just finished re-reading Intelligent Investor (last time was probably 25 years ago). i may need to re-think some of my speculative excesses. i have not traded anything for four days now, and the market was open for two of them.

i doubt that Ben G would recommend either TBET or NOVS as being an intelligent investment. although he does not rule out speculation among enterprising investors, he does strongly suggest a margin of safety that, for these two names, are not obvious to me.
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