I apologize again if I offended anyone with my reaction to the convertible news. That was not my intention.
However, I am certainly *NOT* going to thank OE for redeeming the convertible. The decision to use this type of financing in the first place has likely caused me several thousand dollars. I am not going to *THANK* OE for not losing more.
I am also not going to thank them for releasing this at the worst possible time. It was a slap in the face of every investor, and I can't believe people aren't offended. OE has done you no favors.
OE is in better shape today than three days ago, no doubt. But as someone pointed out (and then thoroughly beaten up), OE is still not in good shape. Four days ago everyone agreed that the lack of a 4S deal was a killer. Today no one still thinks so? Why not? The BHP overhang is still an issue as well. Oe's future looks a lot less *bleak* but not a lot *brighter*.
If people on this board only want to hear good news, and exchange pleasantries, that's fine. I happen to think that the value in these boards is in gaining access to every piece of available information, good and bad.
It seems to me good investing is all about trying to continuously determine if the good outweighs the bad in an investment. How can you do that with hearing the bad? Why wouldn't you want to hear it? Will ignoring it go away?
I don't think so. I am still very concerned that OE's opportunity may have passed. If so, convertible or not, there are better places for my investing dollars, and yours.
So sorry if I ticked folks off. Good luck with your investment.
us all on a wide variety of subjects and certainly keeps the juices flowing. What I like best is the wide range of opinions that have been expressed, and for the most part, in a pretty civil manner. I've even detected a bit of humor now and then! I hope this board will continue to be as informative as possible...and that means sharing bad news along with the good. We certainly are not all going to agree about everything...but I hope we can all benefit from the experiences we share.
Yes OE made a mistake and you lost money if you sold. That was your choice. Yes OE announced late in the day.Their last four press releases 1)SUNDIRO 7:30 AM 2)APRILIA 9:51AM 3)TEXMACO 8:24AM 4)SIEMENS EXPANSION 11:41 all eastern time how do you think the Australian and German shareholders feel. Yes there is the BHP overhang,and they will sell someday, so will everybody,if the fundementals are there the shares will be absorbed without disruption to the share price. Yes they havent signed a 4 stroke, do you think they dont want to. Yes they are in better shape today than any time in their history, they are up to 14 licensees (paid for), they can't force those CO's to go to market with products.OE unfortunatley has become a long term investment. It will not suite everybodies criteria for a stock. Ralph
I agree that the timing was very unfortunate; but, when you trade on a global scale their is not a lot that can be done. I believe the company should make the announcement public as soon as the ink hits the paper. If they would have tried to keep this secret until the market opened on Tuesday it would surely have leaked out and given others a chance to buy the stock at low levels.
Anyway, the bottom line is, a market that runs from 9:30 - 4:00 does not adequately serve investors in a global marketplace. Our markets have not prepared for this and it will be awhile before there is 24 hour (or some similar version) trading.
Also, I have never tried to trade through instinet, but this would have allowed you to buy on Friday (if they trade ADRs?)