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Strategies & Market Trends : Stock Crashes
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To: Richard Query who wrote (328)2/18/1997 10:14:00 PM
From: Dennis Shiley   of 400
 
Richard, NALF lost about $5 of its share price when it was announced that Prudential was handling a $2.5 million dollar private placement and they did the deal for about $7.50/share. At the time the stock was over $12. You can imagine what happened in about two days. My guess is Prudential felt they bought that stock at a discount to its true value. I'm not sure what they felt that number was, but I know it is a lot more than the current stock price.

Another positive is that Conseco bought into this company in the last year or so. Don't remember the exact date. In any case, I would think they did a better job of due diligence than I could.

I think the Pruduential and Conseco investments tell a lot about the stability of this company. However, I would like to hear more about the reasons they are going to miss the earnings forecast.

By the way, where did you find current information on institutional holdings and transactions?

Thanks,
Dennis
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