Owners of stocks, however, too often let the capricious and often irrational behavior of their fellow owners cause them to behave irrationally as well. Because there is so much chatter about markets, the economy, interest rates, price behavior of stocks, etc., some investors believe it is important to listen to pundits – and, worse yet, important to consider acting upon their comments.” – Warren Buffett
I pleaded with him not to do that and told him that it would wipe all of the existing shareholders out. He seemed to think differently and thought if it were trading in the 30 cent range that it would be more appealing to investors. I think he understood my argument, but I was honestly surprised that we were having the conversation at all given that he said numerous times that he wasn’t going to do that. With this new merger who knows what direction he will get yanked in. I do think the merger will be a good thing for the company and I did think the revenues were amazing for a company in the trips. I didn’t like that he told us all that the 700 million shares would be returned to Treasury only to find out that they were part of the new deal. I chalk this whole experience up to one big learning lesson. Time will be a definite factor for me going forward. I don’t mind playing the long game, but I won’t do it again without strong fundamentals or a very strong catalyst. Accumulating shares on dips is one thing if the fundamentals are strong or the company has backlogs, but this is way too speculative and trending the wrong way (for now). Again, good luck to all here and I thank everyone for the great due diligence and conversation. I hope and can’t wait to see you guys make a mint here! You all certainly deserve it!! That’s a fact!
It looks like the name on the PRs might be changing. The 3/30 PR was signed off by Todd as Chairman of the Board of Directors with no mention of the CEO. This PR was only on OTC markets and was not on the national news wires.
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