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Flexsteel Industries Inc. Message Board

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  • pmlljl pmlljl Jan 3, 2008 9:39 PM Flag

    igloos

    pj:

    I do not think FLXS makes or sells igloos. I don't think they even make or sell furniture made of ice because they do not operate in the ultra northern climes where polar bears roam free.

    FLXS does pay a handsome dividend compared to other companies and they also have a balance sheet unencumbered with intangibles. I think that some day it will go to book value or above and I am on for the ride. I intend to average down if it continues in that direction, and at $10 I will load up the truck.

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    • pmlljl,
      Being a wild speculator, the bear bought at 11.98.

      • 1 Reply to pjv2xyw9dww4b5
      • pj:

        The bear got lucky today with a late session buy order, probably "at the market", that drove FLXS up to about $12.30. I imagine that order made the market maker happy.

        Therefore, FLXS "outperformed the market" on a disasterous day for the Dow and the Nasdaq.

        The committee thinks the market looks very bad and that all the deniers of financial trouble who thought the Fed would step in and save the day are in for a tough spell. The committee thinks that the troubles are bigger than the Fed and all the central banks can solve in the short term. We are likely to see proof that Warren Buffett's statement that derivatives are weapons of financial mass destruction is true and that the mortgage originators, the investment banks, hedge funds and private equity guys are the financial equivalent of Al-queda.

        Batten down the hatches and seal up the dens, 2008 looks to be a year where breaking even will be considered a great success.

 
FLXS
39.33-0.29(-0.73%)Jul 1 4:00 PMEDT