RE:I may regret itlifeisgood1010 wrote: I may regret my move but i sold some more today,
I now have only 10500 shares, i had more than 50,000 shares.
3 reason prompted me to sell
1-Like i said previously, i wanted cash for another stock i am accumulating.
2-When i viewed the video given by Atrium featuring JF Boursier.
In the video, when asked what they would do if they have excess cash
he responded that he could raised the dividend or buyback shares.
I was ok with giving us the $$ in form of a dividend but i was piss off
to hear that they would consider a share buyback.
These financial engineering only works in the very short term.I have seen so many
time company destroying the value of their shareholders by buying back shares.
You don't buyback share at 1.8 time book.I would understand his reasoning
if the stock was below $5 but not at these level.
DRX as the wind in their back and will enjoy a few more years of growth and high
profitability.But there will be a time when the wind will turn and at that point
a strong balance sheet will be required.
So why not keep the excess cash to reduce the LT debt.And IF you have way to
much cash, do a one time special dividend with the excess cash.
Another good use of the excess cash would be to go further in the automation
by buying more automated welders.
3-The third reason,while i am not a market timer,the run up in the market since
the low of October seems a bit excesive to me.
Why do i keep 10,500 shares:Because i may be totally wrong in selling.
I still think that DRX is a VERY GOOD COMPANY and it will do well in the
next 2 to 3 years.
I don't have a cristal ball and while i did sell a good portion of my position,
i don't wish that the stock goes in the $7
If it were to go there i will consider buying back some of my share.
Call me a dreamer but in my 46 years of investing i have seen weard thing happening.
Do i think DRX will go in the $7.NO but you never know.
Some or many of you may differ with my way of thinking and i respect that.
For all of you who are long, i sincerly hope that i was wrong in selling
and look follish in a not to distant time.
I am going on vacation at the end of next week.Last year DRX reported on April 13th.
I will be back at that time.
Good luck to all, especially to Micro,YKZSH8 and Naissance.
Nice weekend to all.
I sure hope it goes to $7, so I can load up.
Btw, you can't lose since you sold with a great profit.
Have a great week end.