sorry, david. yes, i'm still in SGR. It's one of those losing stocks you just hate to sell for tax losses. I guess you've seen the recent news of the SECOND stock buyback of another 10%. I've heard mixed reviews due to the funding of the buyback through their line of credit. I doubt they'd be using it if they didn't feel good about repaying in the very near future. Further, this move could possibly lead to a leveraged buyout at some point. I would think management would be licking their (read HIS) chops right now. I mean, you could essentially take this company for what? 1/4 of trailing sales?????
Anyway, I've been extremely busy and have kinda ignored some of the threads. I did pick up a little SGR at 7 1/2. CB can vouch for this. I'm not giving up on SGR, as it is truly an undervalued, underloved company. Oh, speaking of buying wool coats in the summer...just returned from Moscow and, if I didn't have one, I would have paid $2,000 for a wool coat! Kind of reminded me of SGR, which is clearly like buying ice cream in Moscow (by the way, there are plenty of Baskin Robbins kiosks in Moscow)!
regards,
greg |
