au great, There is much truth in what you have to say. My irritation stems from how IR and officers of SVL polished their spin on things and then had the NR after the fact. Way after. It may be a great investement. I would stick with it if you like it. It may triple by the end of 2004. Click on the photo on this link to El Ocote:
RE: By the time I sell everything that has a political, environmental, or customs problem I won't have a portfolio left..so what do I do ?
I have no idea of what problems existing in other companies that I own or am looking at. But we know these problems with SVL. Sure they could have not said anything at all - which would make the management look even worse if we did find out afterward.
And yes I would own Wal-mart at any given time - knowing full well there are cases out there suing for discrimination and not paying overtime and whatever else people want from the #1 retail company in the world. But the cases are not major. Sure it may affect their profits - and the stock might fall a bit. But they are otherwise unstoppable.
But the risk is different with SVL (I think we are taking this off to another world here - it is a $1.20 stock... remember that).
Drilling and finding is their business - if they can't drill - what is the point of the company? (Movie: The Bicycle Thief).
Look at Voisey's Bay. I couldn't give a RATS ASS what NDT Ventures or any other small fry did anywhere else on planet earth. I bought them knowing they are in the area of a huge find and if the Indian's block the road to get the equipment in, I am dumping that-NOW!
Radically OT...
I hear these people say "I will not invest in a company that makes money from sin " (e.g. Alcohol; Cigarettes; Gambling etc) That is hard to do I think. So many companies do things and you would never know all the side businesses.
FACTOID - Did you know that Warren Buffett condones the selling of overpriced Vacuums to unsuspecting poor people?
Interestingly, agents sell $1000US+ vacuums DOOR-TO-DOOR in poor neighborhoods. The brand is called Kirby - only sold by agents. Follow the Kirby company up the tree and you find it is a division of Berkshire Hathaway.
Anytime I hear about BH - I never hear about Kirby. I wonder how many investors would want to still own BH knowing this. But then again, how many would care - as long as BH keeps appreciating?
Then look at Dupont. Lawsuits abound - typical with a chemical company - and nothing that would cause investor angst.
But last night there was a 20/20 report showing how Dupont sold Teflon "knowing" that if heated above 550F (perhaps normal it appears when frying simple bacon) the fumes given off items with Teflon can give you "flu like symptoms". (Not shown on any Teflon package but always on the Dupont website).
So the question is open - the FDA is apparently doing a sped up review of this since Teflon is so widespread. But if I was an investor - this issue would be of concern. And if the FDA finds something major, who knows what this will mean. The unknown - like getting a drill across customs.
Anyways.. you still have a number of good points including the other properties.
I think you are taking things too personal. State your views and move on. Don't fight over such a small issue. If you hold it and you are right - bang on! Good bet - good going - and I will be there to congratulate you! If you are wrong, well learn from it - I won't be there saying "told you so".
Again I thank you for your continued input on SVL.
Radically OT #2 I like Harvey's burgers. But there is one issue that always sticks out. I see them cooking the meat. I also see the low paid worker putting RAW meat on the grill and with the same e-coli contaminated hand putting the buns on the warmer. Based on this fact, I prefer not to buy my food there but instead buy at Wendy's, BK or McDonalds (another recommended by the W$W guest).
I have NO idea what the others do - but I don't like seeing it at Harvey's and refuse to go there.
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