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Strategies & Market Trends : Turnarund Investing -- Ignore unavailable to you. Want to Upgrade?

To: bankbuyer who wrote (523)	4/26/2012 1:00:50 PM
From: grahamcracker	Respond to of 1876

Yep, Pier One was a failure. Bought in '06 at 9 bucks, decided that I'd made a mistake, sold at 5 bucks and never followed again. At least I got the 5 bucks. It could have been worse. There was a subsequent period, as you note, where I could have made money, but I was long gone without looking back.

To: bankbuyer who wrote (523)	4/26/2012 2:06:14 PM
From: Covenant	Read Replies (1) \| Respond to of 1876

Lou Simpson at BRK bought PIR at one point. This got me interested enough to check it out. As part of my due diligence, I went into a store. There wasn't a single item in the store I would want to own regardless of price. So I decided PIR wasn't for me. Looking back, I should have shorted PIR then. But I didn't, and PIR lost about 70% of its value before recovering over a period of years. Presumably PIR has since changed their product mix and that explains the recovery.