At this rate he can buy the whole company slowly over the next 6 months and never
move the price
Well, he won't get my 1600 shares :) Fact of the matter is that both Consolidated cigar and Swisher just got stolen from the shareholders this year, and it is not infrequent in situations like this -- where everyone is sitting around knowing the stock price ain't going lower, watching insiders and outsiders accumulate, and saying it is such a bargain now for long term holders -- that it so happens the outiders and the insiders become the long-term holders seeing such a bargain they either a)take it private or b)get a sweetheart deal for MWY's management in a merger, and the minority shareholders are left in the cold. I've actually been holding shares of one company a few years ago that seemed cheap, and was taken over at about 15% less than the market price of the shares at the time of the announcement. And I've been in about 5 class action suits, and gotten squat - even when I've won. So investor beware.
Two questions.
1)What is the verdict on Nicastro? I've heard he's slimy, and that he's brilliant. Can anyone vouch for him? Mr. Redstone, not you.
2)I talked to my bro, a video game junky (I have N64, he has Playstation, but I never play and he does), and he says Midway really doesn't have anything good out. Granted he doesn't do sports, but even then he might say they only have one good one. Anyone with info on their pipeline? And if their pipeline is bone dry, or at least devoid of future hits, then why? Is there a brain drain? And if so does it start at the top or the bottom? Should I be making the pharmaceutical co analogy here?
Good investing,
Mike |
