To: Thomas Kelly who wrote (122 ) 3/27/2000 4:00:00 PM From: Crazy Canuck Read Replies (1) | Respond to of 960
Hi Tom! I know you asked this question of Keith, however I would like to take a stab at answering your questions. Prior to investing in any company, I spend a considerable amount of time reviewing the public filings and news releases. I look at comparative companies, and try to formulate a clear picture in my mind about what the company does, their business model, their management depth, and their prospects for the future. After pulling this information together I will then cull out a number of specific questions that I want answers to. In the process of obtaining answers to these questions, I will call the company and speak to whoever can answer them for me. More often than not, after 15 minutes into the discussion, I am referred to others in the company for answers to my questions. It is rare to find one person who knows it all. After receiving satisfactory answers, I will then decide to whether to purchase shares in the company or pass. If I do purchase shares, I will then start to share much of the information I have found via the Internet discussion forums. From my experience, I have found that when a company realizes that an investor is on board for the long haul and they are eager to get their story told (not through hyping it, but through balanced discussion and dissemination of facts), then they are much more receptive to being available to you when you call. Mr. Chu was aware of the research both Keith and I had conducted, and the information that had been posted on the threads. I also believe that many companies are now taking a closer interest in who is telling their story, and they want to be sure that the people doing this know what they are doing, are principled enough that they will not damage their company or other shareholders in an irresponsible or malicious fashion. Because of this, I believe that Mr. Chu was as interested in meeting us as we were to meet him. Too often companies are bombarded by short term investors who are looking for the sound bite that will make them a nice profit. As a result, company officials have to be very judicious with their time, and some people may not get the access we were afforded. I am sure that the fact that we spent a good deal of money on flights and hotel costs for this trip helped us to gain the access we did. During this past year, I have conducted similar 'on site' visits to a variety of companies. I have taken 5 Business Research related trips to Calgary (2), Toronto, Detroit, and Vancouver. I am absolutely convinced that these trips have helped me to add or exclude prospective companies from my portfolio. It is something I have the freedom to do, I enjoy doing it, and I look forward to doing more of the same. Now to also be able to hook up with Keith and tag team a company was definitely a highlight that I hope to repeat again. As a result of our visit to CPT, I will be looking for any opportunity to add to my holdings. I like their story, I trust their management, and I believe that the risk reward is heavy to the upside. Crazy Canuck