David,
Re: Where are we now? Generally speaking, your assessment seems pretty good - time will tell. I couldn't really find anything that did not seem possible or plausible.
There is some grumbling and foul language going on over at Yahoo today and, of course, they are unhappy with the stock price and with Randy. So what else is new?
As for me, I can understand everyones' frustration; I feel it every day. But at times like this I'm reminded of Warren Buffet who says he invests in companies, not in stocks. He also says he wouldn't care if the stock market closed for 10 years. And in a way, of course, he is right.
So, for the moment let's forget about the stock price and the market and see how/if our/my perspective changes how we look at the company. If we forget the market and the stock price I think most of us would come to many of the same conclusions as you have done in your "Where are we now?" post. We would say this company and industry have come a long way in two years. We would say there is a huge market out there that needs IDX's products and services. We would look at IDX and say they are still the leader in its field. We would say that when/if this industry takes off our company should make money hand over fist.....We would also say there are some issues like privacy and the stigma of fingerprinting that need to be overcome. We would also say the company has increased the top line well but we are lacking on the bottom line. We would also say prices for equipment are dropping steadily and margins will be harder to maintain, etc. etc, etc.
What I am trying to say is that if we were investors in IDX as a private company I think most of us would feel quite differently about our investment. We would concentrate more on the future and its possibilities than on the current quotation of the value of our stock and we would look back over the last 2 or 3 years and say, "Generally, things are coming along nicely."
Now my preaching is done. Everybody can blast away at me. Go ahead, tell me I've got my head in the sand if you think so. Or you can agree with me and add your own comments. I've got thick skin.
Rick |
