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Corrections Corporation of America Message Board

  • yahoo yahoo May 12, 2005 10:47 AM Flag

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    • Bullish Crossover....Technically PZN is due for upside movement..
      I agree this stock is oversold and undervalued..Good luck to all.

    • Well said - remember that several istitutional
      investors have ponied up $100 million greenbacks for the
      distinct priviledge of earning 12% over SEVEN years.
      While, of course, corportations must meet bond
      obligations before preferred and, lastly, common dividends -
      there are plenty of people satisfied with adding a 12%
      fixed income charmer to their portfolio with minimal
      capital appreciation potential (unless interest rates
      tank) and a fair amount of risk. But long term owners
      of the common stock can receive 20% dividends (even
      if dividends are cut by 40%, that would be a 12%
      yield, like the bond!!) and still maintain the chance
      for capital appreciation at some interval less than
      SEVEN years! True long term owners will benefit as long
      as the company functions reasonably well.

    • I'm with bucelli45 and erskind for two great
      posts! The immediate question is about basing and
      recovery, not putting PZN under the knife. erskind gives us
      a laugh, and underneath a true comment on the
      vagaries and mercurical nature of analysts. They might
      just as easily decide PZN is an undervalued strong buy
      if somebody steps up to the podium and says so.
      newMK is right, let's look to December to see how the
      current REIT status plays out.

      I'm patient, long
      and happy with my position (didn't buy at 40 though,
      I must say). This past month is a small blip in the
      life of this organization. One we'll remember, but not
      the start of an era of "bankruptcy, no more dividend,
      death of the company" as the chatter that I hear so
      much on this board would portray it.

    • Ben Graham told a story 40 years ago that
      illustrates why investment professionals behave as they do:
      An oil prospector, moving to his heavenly reward,
      was met by St. Peter with bad news. "You're qualified
      for residence", said St. Peter, "but, as you can see,
      the compound reserved for oil men is packed. There's
      no way to squeeze you in." After thinking a moment,
      the prospector cupped his hands and yelled, "Oil
      discovered in hell." Immediately the gate to the compound
      opened and all of the oil men marched out to head for
      the nether regions. Impressed, St. Peter invited the
      prospector to move in and make himself comfortable. The
      prospector paused. "No," he said, "I think I will go along
      with the rest of the boys. There might be some truth
      to that rumor after all."

    • On covered calls, I have seen calls exercised
      when they are trading slightly above strike to capture
      dividend. Used to trade GTE, and on day before ex-div.,
      sometimes had stock called even though bid was never lower
      than 3/8 over strike.

    • Warren Buffett...


    • As the worlds greatest investor has said many times "if you don't intend on holding at a stock for 10 years don't hold it for 10 minutes"


    • I believe that the average time that a stock is
      held by investors (institutional + retail investor) is
      only 18 months. When analysts issue a Strong Buy or a
      Buy recommendation I always wonder what is their time
      frame - 6 months? year? A stock may be of mediocre
      value one year out but may be a great investment three
      years out. Five years seems to be an eternity in the
      investment world and yet if a stock doubles in price over 5
      years that's a 20% annual rate of return. Try holding a
      stock for 5 years - I've never done it but I wished I
      had on a number of stocks I've owned. So as I reflect
      on what has happened to PZN over the past few weeks
      I keep thinking about this time frame variable.
      When great things are expected of a stock one year out
      and things don't pan out, the stock gets clobbered
      yet that same stock could be a great one to hold onto
      for three or more years. I've also wondered what the
      average holding time is for those individuals who post
      messages here.....I tend to think that, on average, it is
      quite a short period of I said earlier I
      haven't been able to hold onto a stock longer than two's really hard to "stay the course" for up to five
      years yet if you've picked a good stock you can get
      amply rewarded and save on all those commission and
      trading costs.

    • While technically the stock could get called at
      any time before option expiration, I've NEVER seen it
      happen 1) unless the stock is above the strike price
      (obviously), and 2) until the day of expiration (3rd Fri)

    • Covered calls for me; I have no interest in being
      short (naked) the calls.

      One the one hand, the
      best of both worlds... keep the div's and keep a
      little premium too (call it an extra dividend, if you

      But, giving away any dramatic upside.

      So, in
      my mind, stocks always come back slower than they go
      down. The large div's would also adjust downward the
      share price, helping keep it from getting called away.

      The only open issue is if the call's strike price is
      also adjusted down for big div's (similar to being
      adjusted to reflect a stock split, etc)

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