Well, we know that at least as of the last presentation that they've noticed no effect from the recession in their POS (point of sales). My only concern with VBDG not meeting their massive earnings guidance would be the credit crunch and lack of official new product announcements. I do wonder if the retailers are being more cautious and stacking fewer inventory or if the guidance originally included anticipation of more product launches by now. Who knows. Short of that I think we could show +.03 EPS for the Q3 which is annualized earnings of +.12 EPS and a PE of around 2 which seems to be the story of my penny holdings.
Assuming the world doesn't end and VBDG gets 2-4 products launched soon like they forecasted, I maintain my target for 2008 of nothing (but will continue to accumulate in the low .20s) and a 2009 bull market of $3 - $5 or a 2009 bear market target of $1. Just my honest opinion which could be dead wrong.
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