My 2 cents:
JT played with the big boys and got his a$$ handed to him. BUT to have the courage to back down, admit the deals weren't in the best interests of ABTX in the long-term, was his shining moment in my eyes.
It would have been too easy to take a lesser deal, just to keep it in the time frame he was stuck with. I give him credit for having the balls to back down and cut our losses now, instead of later. ABT will be back to fight another day.
Those of us who've been around since the $2-3 levels know what's been accomplished in the last 2 years. Unfortunately, as a stock grows up these things are gonna happen. ABTX is now learning the lessons of adolescence. Personally, I think JT should focus on getting us on the NYSE.
For those who didn't have a 3-5 year horizon for this stock, you took your own risks, no matter what JT was saying. You were speculating and placed your bets. You can now cry about it and move on. Or you can resolve to stick it out and do more DD on YOUR company. Read JT's Letter to Shareholders in the new Annual Report. It says it all. We are in about the 4th or 5th year of a 10 year plan. Are you willing to wait? Each one of us has to answer that question. And our answers will tell us whether to buy, sell or hold.
Me, I plan on sticking around. If she drops back into single digits, I'll buy more. Simple as that. I hope this selloff (if it occurs) cleanses itself of all the short-term money. This is NOT an internet stock. So stop expecting internet-stock type of action.
All IMHO,
Buzz |
