Your preaching to the choir here:p I hedged with some puts so this downturn is a bit easier for me to take. In a way I wouldn't mind visiting $15 again for a couple days so I could buy a few more but I'm not worried in the slightest and not basing any decision on a future catalyst. Only thing I'm counting on is continued earnings growth, everything else is just a bonus.
Agreed that we can't keep hoping for a catalyst. We had it - Jacky was going to prove that they were the real deal with the share buyback. That bought some temporary credibiilty but he screwed us on that and that credibility has eroded. There is no way to explain that away.
The market isn't waiting for more quarterly announcements of proved earnings, they have shown they can deliver on that - I doubt there is any question about how their numbers will look each quarter. People still aren't buying into management long term and I maintain it is because of the lack of trust related to them doing the right thing with their money.
The market has bought the business model, they are not buying management. Only a dividend or a massive acquistion that proves they had a plan all along will change that IMO.
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