Serge,
If Rob is your idol, so be it. He's not mine.
And the reason's for comparing him with a mental midget were well defined in my post.
Re the accuracy of his predictions. He has never retracted his statement that NN is at best a $32Cdn (About $21 US) stock. ... all the way up to $40. US He was wrong then, he has been wrong for most of the past year, and he's still wrong now.
If that's your definition of living in the real world, so be it. It certainly isn't mine. His call over the past year has sucked. ... and still does. and is even more moronic now. The 35% growth rate in ATM revenues annualized translates into 332%. I won't even waste anybody's time annualizing the 45% order growth rate for ATM.
Even I don't expect that quarterly growth rate in Sales or Orders to be sustained over the next 2 quarters let alone a whole year. But I do expect ATM to grow by much more than 50% for the next couple years or so. ... and I expect NN to take a solid market share during that period. The midget ignores reality of NN's share and its growth and its success at introducing new products that are accepted (eagerly) by the marketplace.
And to say that Coke didn't and doesn't have any competitors is also ignoring reality. The comment related to single product companies. There are many of them. If you don't like the first set I picked how about Chlorox, Dial, etc. If you don't like those, pick almost any other set of companies. The majority focus on a core business rather than being jack of all trades and masters of none. GE is about the only extraordinarily successful exception to that "rule".
Re being Erratic: Even Nortel which is now close to a $20B company had an erratic quarter and has had several erratic years since coming public. It certainly isn't being permanently shunned by the investment community. Again there are very few CSCOs or MSFTs that seem to be totally immune to real world lumps and bumps.
If you can't stand the heat, stay out of the NN kitchen.
I'm neither angry or frustrated. Unless you know my emotions better than I do. Which I strongly doubt. Disgusted that a mental midget seemed to be listened to by the Canadian investment community, perhaps.
Unless Rob's already lost the job he held with CT Securities yesterday, he doesn't work for Scotia Mcleod. I'm not sure that many would regard that move as a "promotion".
And finally, as stated yesterday, I fully expect NN to bounce back relatively quickly. Getting no downgrades and 1 upgrade after an earnings warning is astonishing to me, at least, if not to others. Where I felt this company had a bit more consistency to go before regaining credibility with the Analyst community, it appears some of them have matured a little since the Wes Scott fiasco at Nortel. Perhaps Wes getting kicked out of Nortel helped a little. ;-)
Whether it happens before this next earnings report or after the next, I don't know, nor do I much care. When I'm ready to sell, it will be because the price is much higher than my view of what NN's prospects would warrant.
JMHO,
Ian. |
