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He bought it at about 25 cents and sold 25% at $1.54. He was trying to sell more but the market would not take it. Now it is in the $3 range and is thinking about selling it next year so as to defer taxes. They have just said they are doing very well. They have a new factory and are packing a lot out of it. It seems they are firing on almost all cylinders. He would not buy it here. He would love to see them taken over but is not tipping his beer to it right now.
It was one of the worst mistakes he made of the last couple years. He hopes to sell it at $12-$14. He didn’t think this company would get into so much trouble. Since then they have paid off a lot of debt and now he is happy to hold it. The CEO came from Bankers and it was a top pick of his. There is one insider buying a lot of shares. He likes it and plans on holing it.
He used to hold it and took a small loss, glad he got out. The company scared him because things were changing so quickly. They are having problem because management is leaving. It is a good paper, but readership is falling way off. Their move to the Internet has not been that successful. They have no debt on the balance sheet -- great balance sheet. He watches it but is staying away from it.
They make female condoms. They were the leader in the world last year. They have done a merger with a technology company, with Aspen Pharma, and he hates the merger as Aspen has zero revenue. Their management ran a previous company into the ground. FHCO-Q have no debt but the revenues got cut in half the last quarter. He is looking for when he should get out.
He never averages up, only down. Gold has been hit because of the US dollar and interest rates going up. China is limiting the amount of gold that can go into the country and India is eliminating some of their currency. You have these strong currents against it. Trump is positive for gold because you never know what he is going to say or do. Gold is an interesting play at the right price point.
There is a huge amount of debt at the company. The ‘B’ preferreds were trading at 8% but there is a lot of risk. He would be very wary of anything they say. He was glad he got out because he was afraid of what was going on with the ‘C’ series. They have constant bailouts. The preferreds are reasonably secured.
There is a huge amount of debt at the company. The ‘B’ preferreds were trading at 8% but there is a lot of risk. He would be very wary of anything they say. He was glad he got out because he was afraid of what was going on with the ‘C’ series. They have constant bailouts. The preferreds are reasonably secured.
Markets. Markets never continue to go in one direction. We often get a Christmas rally and the January affect. Once people realize that many of Donald’s polices don’t make a lot of sense the markets may reverse themselves. If you invest a lot in infrastructure, where do you get the labour from when you have low unemployment rates, what if you kick out a lot of Mexicans from the US.