Post by
dosperros on Aug 13, 2020 12:16pm
My essay missed the most clear and important advice to date:
Wise words -- they are coming to pass now it seems:
"Hold onto those shares though, the thing is you never know when it will start that rocket upwards and by then it's usually too late to buy those cheap shares. I have a ton of shares from $0.30 cents, but bought more today at $1 based on the market conditions... should tell you something."
I'm no fan of market efficiency (per stocks like this) but I have to give it credit in the Munger sense of being mostly efficient, most of the time. Just the reasonable clarity of a sensible path forward is driving this. I suspect we still draft up a letter to Jordan but the train may already have left the station, and the role of the letter will be getting to the next tier of value (e.g. $2 to $3). In any event, I also have a <$1.00 position so that's not a bad place to be. Regardless, I like the idea of bundling up the nearly 1% of outstanding shares we have in aggregate (I count the buddies and relatives I run money for as being "in" prematurely but that's fine) and making sure we CC Charlie Miller as well. If they prefer our line of reasoning it may at least be a foil to the poorly-formatted PowerPoint with spinning cat GIFs that its likely to be presented to the BOD for prior to Q3.
A few more days like today will wash of the jobbers taking easy profits. I take a fairly dim view of the technical side, but the next major rung for resistance is likely around $2.00 where some folks I know have an average cost. If the train arrives slowly they'll likely sell there to break even. But if it arrives powered by a jet engine, well, let the gains run and forget about giving up the ghost then.