on this board. This is a very knowledgeable
board, relatively free of spam and unrelated postings,
but all of that knowledge is like a pocket
handkerchief: used for show, not for blowing the nose. I read
that Crants should step down, the BOD should do this,
the FFO is this and that, Crants Jr is inept, PZN
should do this and that, borrowing is a problem, PZN is
not an open book, on and on it goes.
posting is going to affect the value of this stock or how
this company operates. You can't put your hand in the
same water twice and you can't undo the past. The
fact, despite all the REIT savvy and market knowledge
of the posters, is that this stock has plunged. It
may or may not be Humpty Dumpty; maybe it can and
maybe it can't be put together again. But the cold fact
is that it has lost market value. You can
pontificate about undervalued and drool at a 20% dividend,
but the market makes the price, not a bunch of
erudite posters on a Yahoo board. The market does not
like PZN--PERIOD! The market makes the price and
ultimately the capitalization and value of a stock, not
clever posters on Yahoo. The market is privy to and deal
with data and facts, not speculation. The market can
be wrong; but IMHO it is not wrong about PZN.
There will be a "dead cat bounce" and then the drop
will come. Maybe not to $5, but certainly down.
can dream of about a comeback, but as some of the
astute posters have observed, you will not have a
comeback with the current BOD and management team. This
BOD and the Crants team are not going anywhere and
PZN is going with them.
Sorry for the post, but
after following this board for some months as a lurker,
I finally got pissed off at the naivete of a very
On 6/4/99 A report of unsheduled material event
or corporate change concerning PZN was filed with
the SEC(form 6-K 6KA-8K/A)
Acquistion, resignation of directors or change in the fiscal
year...I will try to get details.
Since 5/7/99 analysis
shows that managment efficiency ..That is
Income/Employee ratio is far above the industry
PZN $2.4 million versus $61,000 for the
PZN price to sales(PSR)is 25 % above the
PZN debt ratio is 0.48 that is below the industry
average of 1.33
PZN has credit shelf of 1 Billion...
Not sure of facts here.
I believe that there will
be a secondary offering of the Bonds
at a time
when the market is more receptive...
is your name a play on "parallax"? I hope so,
because then you realize that the direction of a body in
motion appears different from differing vantage points.
Doesn't change the real direction of the body, but
appearances are deceiving.
Many of the people posting
on this board are simply trying to figure out the
destination of their investment in PZN. The direction appears
obvious, but is our view (whether positive or negative)
distorted by perspective? Gathering facts and considering
opinions is part of that process. I suspect that none of
the serious posters, whether supporters of management
or critics of management, presumes to influence the
"market", although we are part of the "market" simply by
having the ability to buy and sell. You yourself confess
to months of lurking, but for what
You break your many months of silence to state the
obvious: the market doesn't like this company - PERIOD.
I'm glad you shared that with us, because in our
naivete we hadn't noticed.
You both may be right about the direction of the
stock over the near term. You also may be right
concerning the need to replace the DOCS, at the very least
shake up the board for credibility sake.
the problem I have with both of you. Parralocks you
say that you have watched this board for months but
you just updated your site yesterday. Where were you
when the stock was at 22 3 weeks ago? At least Cleo
has credibility when she bashes the stock. She has
been bashing as long as I've been here and has near
term proved to be right. But you guys come along when
the stock is in the sh@@ter with all of your after
the fact analogy. That's really a tough thing to do.
My question to both of you is are you short or
long the stock? If the answer is no, why do you have
such an interest? Tell us what holdings you do have so
we can analyze them for you. My guess is that
neither of you have a pot to pea in, just a computer set
up in an apartment somewhere with nothing else to
That is another quality that goes with naivete:
paranoism. Everytime someone posts something that you people
don't want to hear, you want to find out who this
stranger is. He/she is either a daytrader, a short, a
conniving sonaofbitch with a hidden agenda. PZN may have a
hidden agenda, I do not. I have posted under other
aliases, all but three I have erased. I chose parallocks
as a one time post. I posted before and got the same
shit: who are you? What's your game? What are you
getting out of this? and on and on.
First, I own
PZN. This is the second time I have been stupid. In
January I bought PZN at 22 and a fraction. In February
unloaded at 21 and took a loss. At 14 PZN looked good
again and I stepped in it a second time. Some people
learn slower than others. As for being long or short, I
personally don't know what the hang up is. What the hell is
this preoccupation with long or short? I thought I was
long the first time and bailed out. I thought I was
long the second time, but will bail on the next
Last year I had a portfolio of 14 REIT's and 1 oil
trust. The income was good, but not good enough to cover
the loss of principal. CMM was my worst experience.
An excellent REIT that was destroyed indirectly by a
hedge fund that lost liquidity and called in its loans.
CMM went through the law suits and Chapter 11. MT was
another dog. It bought a racetrack and other crap. I
could go on and on. I am retired and was long on all my
income stocks. I learned the hard way that if the market
doesn't like a stock, you can cost avarage down into the
poor house. In short, don't marry any stock. If it is
a dog, get out. If that offends you people who have
cost average down, that is your problem. There are
different investment philosophies. Different strokes for
different folks. You do it your way; I'll do it my
I have no negative feelings towards longs or
shorts, day traders or market makers. They do what they
do; their way. I do my thing; you do your thing.
Back to Naivete. PZN did not go down because some
short posted negative "facts" about PZN. PZN did not go
down because some daytrader buys in the morning and
sells in the evening. If you don't like short traders,
take your stock and don't leave it with a broker to
loan out. What I am trying to say is that it really
doesn't matter what kind of trader posts on this board or
any other board. You are the investor. If investing
in PZN makes you warm and fuzzy, buy it till it
comes out of your ass.
But don't be
presumptious to think you can be long with PZN and analyze
someone else's portfolio. I own GE, my biggest holding,
along with LOW, LU, T, XON, WLA, and a few others. I
have a pot to piss in. In fact our house has 4 pots to
Also, I have better things to do than
sitting here answering your post.
Good luck and
the my best wishes to all: the long, the tall and the
short, as well as the naive and the paranoid.
Right on. No one is going to believe this
management team. Why should they? This plunge of the last
three weeks is a direct result of Management not
disclosing all that was happening. Now look at what we have.
A stock price that has dropped over 50% in three
weeks and new lawsuits filed every day. Just what I
want management spending all their time fighting
lawsuits instead of concentrating on business. Besides,
how much will that cost?
Doc and Baby Doc
should go before any more damage is done. I don't care
how smart they think they are. Looking at single
digits next week.
Don't get your hopes up - Doc and Baby Doc will
not be leaving the company. Doc Sr. has the BOD
locked, controls PZN and the private OPCO. If there was
an independent BOD, then, and only then would Doc
Sr. be relieved.