Re: Stock price
I know that I'm going to get flamed for this, but, here it is anyways.
Warren Buffett (sp?) doesn't expect a stock that he just purchased to go up immediately. In fact, if I heard this right, it takes 3 to 4 years before the business plan of the company begins to materialize and the company's security begins to appreciate.
I have seen this stock fall from $55 to $14 and now for $33+ to 8 and maybe lower. It is painful when these events occur, however, I remain a long term investor. KE has stated that he sees this companny at annual sales of $5 billion. He has repeatedly stated that he does not worry about the stock price, rather, "build a strong corporate foundation." As to KE being a conman, well, anyone who has followed this company in the last 2 years should not be surprised. When IOM use to sell in the $40's, during the 2Q of '96 earnings release, KE talked about buying a factory in Malisia and how it would take time to get things strightend out. In his words, the 3Q was going to be a "challeng." When Q3 earnings came out, the beat estimates by 2 cents. He always takes the conservative road.
Based on what I've been reading the last couple of days, it seems that many of you are no longer investors. From the sound of things, this stock thingie has become a gambling thing. Furthermore, why would anyone put SO many eggs in one basket???
Zead |
