Titlewave, I had a very dear friend over this week who just retired. He was one of the luck ones who didn't come with a silver spoon but did have a father who interested him in the workings of the market, and the benefit of good due dilligence. The kind that came before it was easy for the average Joe to buy a stock. The kind where your research involved pouring through the WSJ or Barron's and digging into the Value Line at your local library.
He is of the belief that it has more to do with product than company. This message board stuff is fun and games. I have mention this company to him in the past just to get an unbiased opinion out of him. I didn't want it to be tainted by the years of stuff that have gone on so I steered him away from the message boards.
He researched based on SEC filings and numbers and said there was no way he could put money into this company. He is a guy who craves the new technology plays in any sector and really does his DD. And then checks the DD. He did think the financial state of the company does come into play because in essence what you are protecting is the lifeblood of many companies. He feels the tech must either be clunky and not very seamless, or is not being demonstrated in a manor that is bringing in sales. Red Flag in his mind given the number of breeches in the news we know about. A company should not wait for standards if there is a product ready now for their needs.
We both thought 18 months would be a fair time table. He did delve into some of the actions of those in the company and thought there was a possibility there was also damage control that needed to done along with assurances that things had changed.
When in comes to the messages boards he was absolutely horrified any CEO let alone board member would interact over a message board with shareholders. At the minimum it looks suspect and he also thought it probably wasn't something the SEC would be thrilled with. Felt the only reason is an agenda, that's why you don't see other companies engaging in this medium.
I got the feeling he would rather burn his money in the back yard than invest .01 in a company where some common shareholders were privy to interaction others were not aware of.
I agree with your assessment BTW. Pretty shameful to see how quickly one wants to give Solms a grade when Sprague was operating under a pass/pass scale
I'd give you the ticker of one of the companies we discussed but I don't want to be accused of pumping.
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