<<...They were not interested in the current stock price...Sorry if I was a stock holder, that's all i'm interested in.. But, then again i'm a short term player..>>
Hi Ed,
My post to John (#6171) quotes Akerson as stating, in part, "I do think we are undervalued. We are doing everything we can to insure that people recognize that value....We're trying to manage for long-term value. Last couple of days doesn't mean much to me because we're in this for the long haul. You will see several new initiatives over the next several Q's and the next several years. I hope you'll see appreciation of value."
You're correct in saying he's not losing sleep over price fluctuations from day-to-day. Neither am I, or other long term investors. If the stock drops to 24, I'll buy more. If the stock further drops to 22, I buy again.
When the stock hits the 40's, I again will buy more. When it hits the 50's...and on and on. That's the difference between short term players and long term investors.
On the other hand, he said he understood the concerns of several stockholders who questioned him about the present day price. He aptly reminded them that at last year's Annual Meeting, when the price was around $13/s, he thought it was undervalued too! How right he was then, and how right he is now!
Continued success,
Bernie |
