Yeah, about 40%. Apparently a lot of people think as I do: I have little faith I know what is going on, and I don't want to be taken advantage of, so I do nothing, neither buy nor sell. I still don't understand how they can afford the $10 million given their potential epa liabilities. I could infer they strongly suspect a very favorable outcome, but I have no wish to get more involved with Steel Partners.
Anyway, congrats on the $12.00 buy. Incidentally, I did make some money on Steel Excel, but I sold out my position there after they made some questionable acquisitions. I do have you to thank, Steve, for the money made.
I bet I have done better with your picks than you have with mine, but if you made any money in this market, that's a good thing.
I am in about the same place with SLI as you, neither buying nor selling. The market and world economy are both kind of in flux for the moment, but I am starting to be a little more positive on both. I have a couple of stocks that held up, but about 7 or 8 that have dropped 10% or more in the last couple months.
If you think the world and Europe will recover, you might want to take a look at Hurco Cos. (HURC). I have probably mentioned it before, but if things pick up, they could earn $3 per share on the year and it is selling at $20 right now. Good balance sheet. This was a $60 stock a couple years ago on the same $3 in earnings. I think $40 to $45 in a year could happen.
Historical Earnings, sorry about the formatting. Q3 and Q4 this year are my guesses, and not worth much.