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U.S. Concrete, Inc. Message Board

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  • beginner4stocks beginner4stocks Jan 5, 2011 9:02 PM Flag

    Question for DaninFW

    You are right that I only have posted on this board. I decided to participate on this one because I thought I smelled a bankruptcy coming about a year and a half ago and was amused to see all the posters pumping this stock and the posers saying that US Concrete would never file for bankruptcy, that the bondholders would take equity without a bankruptcy, blah blah blah. Through all those posts I began to realize that there are a lot of people on these boards that don't know squat about what they are talking about, that can't read a financial statement, that are investing (or day trading) in industries that they don't understand. That's why I stopped reading these boards about 3 months ago, when I realized that some people still held out hope to recover anything on the warrants. Ain't gonna happen.

    By the way, I asked you about your investments in US Concrete (not SBGI) because you continually said that your profit in their bonds would more than offset any loss you may suffer on the stock. It appears that play has not worked out yet.

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    • Again, being right once doesn't guarantee you'll be right twice. It will be a wait on the warrants quite evidently and many previous posts to this one "beats the dead horse" quite well. Our country almost had a depression and many companies failed for a multitude of reasons. I had as I remember 9 different companies that I owned file bankruptcy. I bought bonds in them that I analyzed as being worth more in bankruptcy then the price of the bonds in 2008 and 2009. I made money on 7 out of 9 if memory serves. I closed the 8th position with about 10-15% loss and still have USCR. At about $12.50 I break even. How much did you make shorting USCR? DaninFW

      • 1 Reply to daninfw04
      • I might add that the 8 or 9 that filed bankruptcy were part of my portfolio of 75+/- bond holdings that went up as a total OVER 300% in the past 2 years including USCR holdings. I ain't complaining. I bought many at 30-40 cents on the dollar and many have been sold for over 100% on the dollar AFTER collecting interest payments for 2+/- years. Only an idiot puts all their eggs in one basket. DaninFW

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