NYOE, yes, I agree with all of your points, including my flawed logic. I too prefer facts. However, in this case I struggle to reconcile the HWG stock price with the company's reported financials. It leads me to speculate that material information somehow is missing from the public. It kind of reminds me of the economists' dilemna about the $20 bill on the ground: it couldn't be there, because someone already would have picked it up. It makes me nervous -- that $20 bill shouldn't be there, and HWG shouldn't be $32 if they are earning $3/sh each qtr.
I absolutely agree with the $20 bill comparison; it is the best way to describe the situation. You begin to assume the $20 is laced with poison or such. I still can't get fully on board with this stock but I can't keep my feet out of the water as well. Another quarterly update can only help as I feel most of the discount premium being demanded by the market is due to uncertainty.