GREY:SGLRF - Post by User
Comment by
sanityseekeron Jul 25, 2014 1:56am
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Post# 22780837
RE:Re Merger
RE:Re MergerI entered several deep value plays last year including SGL, each of which were an opportunity to buy the underlying assets at an attractive discount (the others being AA, ISH, and MRE). Each of the others yielded a fairly quick return of at least 50 percent or more. It seems the difference between those companies and this one is that each of the others had a competent, discipline management committed to creating value. SGL doesn't seem to have that going for them. It's a shame. Going forward I'll be more selective in my selection of deep value plays and stay away from poor management teams with the wrong motives.
i'm in this one now though, so I'll give them a bit more time to prove me wrong. However, These guys don't get a pass just because they return some of my own capital to me in the form of dividends to pacify me over their failure to create any real value. If distributions alone justified bad performance, any management could take on debt to pay shareholders to wait, then pat themselves on the back for a job well done.