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Tuesday, October 06, 2009 12:42:00 AM
2. If not, a new 52 week low, <$7.53;
3. Some of the reasons I bought PCS at around $8 are:
a. $13.62 was Q2-2009 low;
b. Janus added 2,235%, +1.5M shares in Q2, and holds 1.5M shares,
about $12.7M, not huge for them but a big increase in Q2. So they saw
value in PCS over the $13.62 low. We are buying in the low $8's;
c. S&P Buy rating with PT $14 and "fair value" of about $13;
d. Vanguard and Wellington are the four and fifth largest
shareholders, I follow these institutional holders and they are
conservative;
e. beta is about .50;
f. as economy weakens people have less money to spend on wireless,
which about 80%+ of people have and can not live without;
g. I have more reasons which I am not going to list here.
Caveat: wireless companies are under tremendous pricing pressure right
now, to much competition. Someone is going to get hurt before the
dust settles.
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