RE: RE: dump/Widman2Ya know, we have not talked about this much ggrellette (and we have shared a lot trying to learn) and it is this:
I don't think there was an awareness of Joe until just the last six months to one year. Here is why? When Joe was financing through flow through or otherwise companies through 2007 and was selling, he was doing it at highs, then when the market crashed, he was just selling like everyone else was selling into 2009.
Even last year during the summer everyone was selling as well.
So I don't think really that many companies had any inkling that what Joe was doing was any different than what many other investors were doing. I mean for 9 months startiang with Lehman's demise, heck, who wasn't selling?
So I could berate management here or at MTB or at CDO or at another 150 other companies, but really, that's a lot of dumb CEOs, and it kind of makes you think that when everyone is dumb, no one is dumb, but there was a duplicity that no one was in on but Joe.
However, with that said, frankly, I have to say that the January JSL flow through with Joe was dumb. He thought at .40 and .75, he was safe at those numbers. He didn't do his home work on Joe's strategy.
But even more than that, how dumb CEOs have been even recently. Metanor did no homework. They didn't have a clue about Joe when I told them. Nothing. They are learning now I will tell you. Apella again for them to go with Joe this late in the game after winning that Quebec supreme court ruling on land claims is so bad I can't believe it. They had the world by the tail after winning that ruling and they went with Joe.
Anyone who goes with Joe now at this moment is yes very much bad management.
But are we stupid too. Are all of us who put money in the 150 companies of Joe last October stupid? Would more DD last August have revealed his duplicitious ways?
I don't think so. As we all say now..... it is what it is. Sometime there is no one to blame. It just is what it is.
I would love to blame someone, but sometimes you are in the convenience store when the guy with the gun comes in and starts firing bullets. It isn't your fault you needed milk. You just can't plan for crooks.