SSC Security Services Corp Ordinary Shares V.INP

RE:RE:RE:Tax loss selling candidate

[tkirk62]

I sold the last of my position today. My confidence is just as low as it was after the last few results, I just see a lid on this short term with tax loss selling. I will re-examine after the next quarter's results. 

I really, really want to like this stock. Back when the business model was buying $5 bills for $3.80 (the capital streams, paying $380/MT for canola and then selling it at market prices) I fell in love. I guess I over-estimated the growth potential and the ability of management. I agree Ron that management is misallocating capital (their most important job). They seem to be adamant that the stock is grossly undervalued, yet insist on paying out money rather than buying back shares. Hell right now buying an elevator or crusher and handling their own canola would make more sense than a dividend, and quite possibly would be more profitable than their current model.  Perhaps a transformative acquisition is in order even. 

Hopefully management can provide more clarity on the profitability of marketing streams, continue growing the capital streams, grow the reserves, and allocate money better. While I am no longer holding shares I am going to keep following the stock. I just don't see any reason for this stock to increase before the end of the year, and even after 2018 starts I don't see a catalyst besides results. So until the next earnings announcement I have better places to put my money.