Are HCG Buyers Delusional....?
So, the best deal the Board can cut is........
1) Buffett acquiring HCG shares at a 20% discount to HCG's 20 day average share price.
2) HCG Board accepting Buffett's willingness to offer a new line of credit at 9% interest (which still makes it a money loser for HCG as I don't believe they will be able to lend money at that rate or higher)
...Yet the share price rises almost 20%.....?
Buffett seems to have made a good deal for himself at the expense of HCG shareholders, yet "investors" are bidding up the share price of HCG anyway...I guess all they see is the big shiny object that is Warren Buffett's presence and that's good enough for them to be willing to pay north of $17 per share....wow......
Congratulations to those who were fortunate enough to buy at under $10 and sell at $16+....very high risk, but paid off thanks to the greater fool theory in action IMO.......