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Middleburg Financial Corporation Message Board

  • neutzling neutzling Apr 14, 2013 11:19 PM Flag

    Sokol Absent from Board?

    Anybody know why Sokol is once again absent from the Board of Directors being elected this year? The SEC dropped his case, so wouldn't he be free to join the board and take an active role in this bank now? Doesn't make any sense.

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    • Agreed but as we opined I think it is mistaken to believe he wants an active role, which further suggests this is a flip waiting to happen rather than a vehicle to replicate BH techniques. Probably a bit dangerous to allow country bankers to handle responsibilty of growing business in highly competitive atmosphere. Your disappointment reflected by others in stock weakness. I personally think the majority owned mortgage business is not the goldmine you suggest and should be sold eliminating half of the payroll and embedded assets that can be better utilized in the main business. Also the Asset management business has been a dismal failure to date. Where is the dynamic leadership? With Loudon franchise and redundant savings I think it would be easy to justify a $28.00 takeout, but we can wait and watch the grass grow slowly!!

      Sentiment: Buy

      • 1 Reply to focuseddd
      • It's just that Sokol's comments from a couple years ago don't mesh with what is happening. Also worth noting that MBRG's stock price has underperformed the market the past 4-5 years by quite a bit. It's basically at the same price (around $18) it was when he quit Berkshire, and only up 50% from it's lows in '09. Most other stocks are up 200-500% in the same time period. So as far as a pure investment, it's not been a particularly good one. But as a vehicle for Sokol to do what he does best, that's what I'm hoping for. Just not sure how much longer I can hope for it.

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