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Farmers & Merchants Bank of Long Beach Message Board

  • ramoswyandotte ramoswyandotte May 18, 2014 1:58 PM Flag

    FMBL - A Stock for Insomniacs

    Hello fellow shareholders. It’s Rip Van Winkle here. It’s time for my annual check-in. Warren Buffet once said that he buys stocks that he would like to hold if the market was shut down for ten years. Our bank is a candidate for the “sleep well” portfolio.

    After all this time, at $5,865 the stock had some nice appreciation in the past year, but it still trades at a $20 sliver below book value of $5,885. Now, the bank is expanding and investing in employees and technology. Just like it doesn’t care about quarterly results, but instead is building a solid franchise for the long-run. How refreshing!

    Nevertheless, I still wish they would buy back a few shares under their existing authorization this quarter before they issue the proxy. “Do you feel like we do?” (see Frampton Comes Alive!, circa 1976). Sometimes the best investment is in yourself, you know? Yawn! Regardless, I'm still holding and going back to sleep...

    Do you own due diligence,

    Sentiment: Buy

6,000.000.00(0.00%)Jun 24 2:47 PMEDT