RE: RE: RE: Tabs on Bruce MitchellI have learned the hard way not to rely on Gurus, Talking Heads and most Bay Street Analysts. So its helpful to know that Mr Mitchell is still willing to add to his position, but until the company tells me what is going on, I will remain quite nervous. I don't buy just because someone else is buying.
Gurus: I recall someone saying Mr Mitchell was a star trader at Canada Pension Plan who went out on his own. His reputation is a very shrewd player. He now holds more than 2 million shares of NHC. He seems to invest in beaten-down companies. But from his insider trading history on the official site, he invested in Tiverton Petroleum and Reece Energy. When I owned those companies, I was lucky to break even. I think both companies are gone now. I highly doubt Mr Mitchell receives inside information on NHC just because he has a lot invested. He's making assumptions like the rest of us. I sure hope he's right on NHC.
Fund Managers: I found NHC when JF Tardiff recommended it on BNN at $16. I did my own research. I thought it was too risky, with the dividend exceeding cash flow. I waited until it went down to $7 and then bought. Ouch. I still like JF Tardif. I don't hold it against him. But I now listen to BNN and say rude things to my television set.
Bay Street Analysts: Today I was looking at the new Globe and Mail website. Here are Bay Street Analysts ratings on Teck-Comminco:
March 5 2010: Price $42, Buy=13 analysts, Hold=4 analysts, Sell=0 analysts
March 6 2009: Price $4, Buy=8 analysts, Hold=7 analysts, Sell=2 analysts (Bottom of the Market)
Their recommendations are what a retail investor might do: Sell at the low and buy at the high.