lentiman: You misunderstand me!
As for Warren Buffet:
I never said that my entire investment style was exactly like his. I only said that, like him, I try to buy great value on the very cheap. Me, Warren Buffet? In my dreams!!
However, Warren Buffet is not all that intimate with the oil & gas industry (at least not at this level with tool companies), so he would most likely have a need to do a whole lot of DD on this one, having to rifle through the veritable tons and tons of financials that don't exist. Here is where I have an edge, because I see each of the trees, not the forest!
And I have done my DD on all of the available information that I can find about the industry -- where it's been, where it is, where it's going -- and I know that it is booming, and I know that it is quite profitable, even for the most mediocre oil & gas business. And when you narrow the sector down to CT, you discover that it is experiencing phenomenal growth rates when compared to every other sector within the sector, if you know what I mean.
Doesn't it strike anyone's fancy? Grifco was founded in 1990. As a private company, it actually passed through some of the most difficult times for oil & gas during the late 90's, when the price of oil actually slipped to an inflation-adjusted low of $13.85 (October 2005 dollars), a low such as had not been seen since 1946. It went through this certifiable drought in the business and survived. This gives a whole lot of credence to the company's unrealized worth. If it survived the gloom and doom of the 90's, just imagine (for that's only what most of you here can do) . . . just imagine how spectacularly well it will survive the boom we are in now!
As for my comment (the one you highlighted):
I have EVERY IDEA about it; it is quite valid. I don't have to see an SEC filing to know that GFCI is a supreme value to me. Once again, I have contacts, who are strewn in various areas across the country and who happen to work in a variety of sectors within the oil & gas industry. I do work in the refining business and know how well the oil & gas sector is really doing. I also know that we are just on the verge of some spectacular explosions within the CT sector, which does happen to be the sector with which GFCI is focused.
The potential for growth in a small to medium company is an extremely important factor whenever determining its inherent value. The way I see it, there are tremendous amounts of potentially unrealized value in GFCI that are hidden to most investors that I consider outsiders to the industry. This is why I believe that shares of GFCI are cheap. But then again, life gives no guarantees, which is why I'm only into this one for a 22% portion of my portfolio.
By the way, now that I am speaking of my portfolio, you are totally wrong about Warren Buffet being a few million times richer than me . . . he is only 80,000 times richer!
Good luck to all!
Been_Burned_Before
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