GREY:WEWWF - Post by User
Comment by
Felcoon Oct 08, 2008 9:54pm
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Post# 15515302
RE: 2008 earnings...no profit yet./Veruber
RE: 2008 earnings...no profit yet./Veruber
Most certainly, yesterdays disposal contributed to the decline. I have to say I was surprised to see your post regarding the disposition. I postulated to a friend that considering the quantity of shares Hugh has accumulated in his Northern Rivers Fund and the percentage value it represents, he probably went off side on some internal parameters. In talking with his adviser afterward, he says that whenever a single stock exceeds 10% of a funds values, it becomes problematic. It may have been that even with the drop in value of WEW shares, others in his fund may have fallen further, forcing his hand. Speculation, I know, but possible. I believe after yesterday's 400,000 share lightening, the Northern Rivers Fund still holds in excess of 10 million shares.
I went to NRF's web site and there was Hugh with a 5 minute video clip outlining his funds strategies and objectives. Even in the video clip, he used WEW by name as an example of how he establishes qualitative value in a company. I don't believe he's looking to exit in a meaningful way, any time soon.
Good luck,
Felco
P.S. My buddy listened to the conference call and was pretty impressed. Finally, Fed Ex is officially out of the bag!