I think that I am no longer a believer. I'm not going to sell my 257,000 shares at the current price, but neither am I going to buy any more. The reasons: RMC has not been acquired. The Belize houses are not completed, even though Affordable Housing is not constructing them, Giovanni Smith is, but if GS can't deliver, PRWT is going to suffer the adverse publicity. The videophones are a chimera. NetBank will take your mortgage application over the computer and give you an answer within a day or so. No lender will commit in minutes. The credit check takes longer than that, and there are appraisals to do. The health business is strangely silent except for PRWT. I'll play these, but no more antes into the pot. If the financials are published, and if it looks like I'm wrong and if the stock goes above 50 cents, I'll review it. After all, I could have bought BRK at 12 and so great oaks from little acorns do grow, but I haven't seen any evidence of sprouting here so far.
Sorry to take up so much cyberspace, but business is slow around here this time of year and so I have time to waste.
Everyone have a happy Christmas and let's make some money in 1999. |
