I am fairly new to the business of buying and selling stock, so I need some help. I bought BBII when the charts were looking promising - I figured I would wait up to a year if necessary, for it to at least beat the 6.40% that I get in my money market account - now I'm wondering if it will ever recover my loss let alone make anything - should I take my loss and sell, or will it be worth my while to wait???? Any recommendations from anyone will be carefully considered.
What do I mean by WS Experience? Does anyone at bbii really know how capital markets work and how investors think? If the answer is yes, then the company was in dire need of capital to issue the converts. If the answer is no, then some wall street sharks preyed on our niave bbii minnows. I think I have beat this subject to death. I won't mention it again. Nice to have this conversation with you Major. We are both really on the same page with respect to bbii's potential. We only differ on who should lead.
Really? Where did it say that?
What do you mean by Wall Street Experience? The COO has experience as a CPA and in a couple of financial companies.
I disagree with your assessment of Ric. While you may disagree with the issuance of the bonds, Ric is the reason this company has done so well for so long. If he is replaced, I fear for the future of the company. However, that is my opinion. You have stated yours very clearly, and you are certainly entitled to it. I guess we willl need to wait and see what happens from here.
I have in hand last years annual report. There are three guys who have wall street EXPERIENCE one worked in a coffee shop the other two owned a deli until it went bankrupt!!!
I'm laughing on the outside but crying in the inside. Thank God I'm not trying to retire on BBII.
Well might as well burn this report to keep warm!!!
I seemed to have misplaced last years annual report. I probably threw it out in frustration. Do you know if there is anyone on the board with some wall street experience? If there isn't then we sure need someone.
My feeling was they needed to move Panacos out but that it was a bad time market-wise to get money for it. 3 million was excellent given the conditions. Also, it will improve BBI's financial statements a great deal as drug discovery was a major negative on earnings. Now, BBI will get the benefits (due to their continued 35% stake) while not incurring the negatives (costs of bringing drugs to market). That improvement in the financials should equate to an increasing stock price sometime in the next 6-9 months.
IMHO, you are way to emotionally involved with this company. When you say "nothing has changed with this company" that is just wishful thinking. The convertible bonds are the key to the shareholders future. NO ONE SHOULD BUY ANY MORE STOCK UNTIL THE BONDS ARE CALLED OR REDEEMED! Now, reread posts #1580 and 1584 because their will be a pop quiz tomorrow :o).
As I said before, I am long but not buying anymore until the convertable bonds go away.
You are probably right. I am probably way too emotionally involved with this company. I know these convertable bonds are a huge issue for you. However, I stand by my contention that there is nothing _operationally_ that has changed. I don't think I made clear that major point.
Financially, you could be right, and it is certainly an issue that needs to be considered, but this individual was asking about SELLING what he already owns. I was attempting to put some perspective on it. I also told him that message boards are not the best place to ask such a question. (Your and my differing views on the near term prospects for this company being an excellent example of why. Two different focuses would get two different recommendations. Now what does the original poster do? LOL)
I would say the absolute worst thing you can do is take advice from message board posters. However, let me ask a few questions:
1. When did you buy? (Date)
2. How much did you invest?
3. How long a window were you looking at? (When buying or selling stocks, you should generally be thinking in terms of 3-5 years.)
4. When viewing the company (not the stock price) what has fundamentally changed from when you bought it?
5. How much in losses are you looking at?
In my own opinion, this company got hammered in a general market selloff. Other than that, nothing has changed in how the company operates and what it does. I have been waiting, for some time now, for the company to start to deliver on the promises of the past. I think it will, sooner or later, but I don't expect any blockbuster moves in price for at least another six months. Good luck.