That is my intention Farrago, to get a clearer idea of the overall picture so I can make an assesment knowing that I have not left any stone unturned. Therefore, I am extremely open to your CEO's opinions on the fiscal condition of the company and I can be persuaded, I think we all have in the past by thoughtful and well-researched opinions of others that may go contrary to our original opinion. And since I have already done many hours of DD on Smoky why would I not want to hear an educated opinion of another that may be able to show me something I am missing while in the diligence period before getting in, or deciding not to get in.
And a totally share your sentiments regarding the importance of DD Buckeye, whether in pennyland or digging into the fins of the Euro banks which I also have been doing lately because I see great LT potential in that sector but best to know which horses are best in the race, and in that sector, best to know how much exposure each has in regards to highly distressed holdings, Greece for an example, and the multitude other impairments potentially looming. Now that is some DD that will make your eyeball pop vessels and smoke come out of your ears but you damn well better do it and do it the best you can if you want a better than average chance of nailing it right. If you are personally directing your whole IRA, your kids college funds, your trading for side income account and your families accounts to then you better have the moxie to do the homework or else let someone else invest your money for you.
Thanks to the welcome from you other guys as well, and who here has gone thru the just released 10-Q? Hows the current liabilities looking? My last DD was from the previous 10-Q, havent gotten into the current, will wait on a response from Eddie first. There is no big hurry on my part, I like the guy already because I get the impression he is diligent and got lots of moxie, I do too. He has plenty of other business to be gettin after first and it seems he is. If you do fail ultimately, it wont be for lack of diligence or effort. I am willing to take my DD to the next level if I can get some of the concerns I already have addressed to my satisfaction. This is definetly not a scam by any means in my opinion, but Smoky is financially challenged and in a bit of a bind at this juncture. Of course any of you guys are more than welcome to take a crack at anything I have said already. I know you guys are kinda waiting to hear from the big dawg, so to speak, but I find it helpful hearing the specific reasons why you think SMKY can overcome the current challenges.
I am a very aggressive investor who specializes in emerging and distressed opportunities. When one is dealing with evaluating high risk/reward scenarios it is easy to get caught up the the roses of reward side and downplay the risk side in your own mind. At least it is for me, which is why it is all the more critical to be as diligent as possible and "keep it real" to yourself first.
When you adopt a strategy such as mine you are going to have some losses irregardless of how good your DD is, thats why it is even more important to have full confidence in your rationale in the first place. Nice discussion guys, best of luck to all of you in your various endeavors.
malc
