RE:RE:RE:RE:RE:The spike in share price won’t holdHi extreme,
I fully understand your frustration with this investment as the list of poor investments and management decisions over the past decade are unbelievable. You can't attribute this to bad luck - this is gross incompetence.
For instance, they sold Harlequin too late and got a fraction of the value it held a few years earlier. I would estimate its value at more than $800 million if they had marketed the company rather than waiting for Harper Collins to show up on their doorstep.
Similarly, the 2006 investment of $283 million in Bell Globemedia was more than ill-advised and was another squandered opportunity.
VerticalScope may in time also confirm their reverse Midas Touch in the same way as their investments in Metro, WagJag, Workopolis, Star Touch and the list goes on.
If Torstar was loaded with debt and was hemorraging cash with no dividend and no white knight in sight I wouldn't touch this investment.with a ten foot pole. The Voting Trust is well past their best before date and will eventually concede they are in well over their heads. They will find a way to gracefully hand over the business to Fairfax with Honderich securing some kind of benign sinecure to assuage his delicate ego.
The real money that could have been made from Torstar over the past decade was going short, not long. Shorting carries lots of risk and is only for the truly adventurous. I have not made money on the short side of this stock, but I only went long under $2 when I determined it was oversold and grossly undervalued. No guarantees with any investment, but the signals suggest Torstar finally represents an opportunity to make money inspite of the Voting Trust and poor management.