I am sitting here reading all this nonsense on land development issues. Wow, I can not believe the depths to which pepole are willing to pass blame.
I have been an NN investor since 1993, talking about dips and lows. Hell, doing some more thinking, I had actually owned the stock for a while in the 1990 timeframe with an average purchase price of $7.00 per share and sold at $14.00 thinking I did great....could've been a multi-millionaire....could've, should've, would've,,,gee...this kind of thinking bugs me.
The only thing I did wrong at at the time was not to keep the faith, faith in TM that he could do it. I under estimated him. He is a visionary, willing to take chances, and has a strong sense of commitment.
I live in Ottawa and work in the high tech field. I know a lot of people who work at NN. So I have some insight over the history of the company.
The main point here, about the land development dealings, is that NN is growing and needs to attract a lot of high tech talent. NN needs the land for expansion of its R&D and mfg facilities. It is an investment in in NN's future. Plan now. Pay now, Prosper later. Why not throw in a hote? Kanata is desperately in need of one for all the high tech visitors, not only to NN, but to the many other high tech companies located in the area. This is a perk which will attract the needed hard-to-get talent. It's great economic boon to the area.
Anybody looking for short term gains should not be berating TM. The longer term investor like myself should realize that NN is at a turning point in its evolution and has to plan for TDM business drop-off and to deal with the results of its poor decision on its UB acquisition. TM, in my opinion, is not re-focussing his efforts. He's got too big an ego for success. He's got strong management.
Now, all the above having been said, I am not crying poor. I have been doing some trading in and out over the past many years, and have been making a lot of money. Right now I am long on NN, and have written several calls to cushion recent share depreciation.
So let's get on with our focus on appropriate investment strategies and not get get bogged down with feelings. I am sure this land deal has been in the works for quite a while now and is not something that has resulted from an overnight decision.
I am sure somebody is apt to strongly disagree with my above off-the-cuff rantings? I just think that this land thing is a red herring.
Good investing everybody. Keep the faith.
I have been enjoying the postings.
Regards to all......Martin |
