Michael SprungFalconbridge LtdFAL.TOSELLOct 11, 2005
Inco (N-T) has made an offer to acquire and feels it is a good deal and makes a lot of sense. This will produce a very strong Canadian company with a good future going well out over the next decade. Would probably sell into the rally.
(A Top Pick Aug 25/05. Up 124%.) Had chosen it on the expectation the nickel market would tighten up, which it did. Now looking for junior companies with producing assets.
(A Top Pick Oct 19/05. Up 84%.) Was incredibly cheap and thought he could make a good grinding rate of return. He also hoped that the nickel market might get tight. Was taken out.
The chance of them not getting taken over is almost zero. If you own, you might consider taking some profit now and holding on to some and see what might come out of the woodwork.
Given that the market thinks there are 2/3 bidders out there, if you own you may be playing around with the last couple of dollars. Consider selling half a position.