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Corrections Corporation of America Message Board

  • parallocks parallocks Jun 5, 1999 5:30 AM Flag

    More is said than done

    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.
    Not one
    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.
    You
    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
    intelligent board.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • 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)
      Examples include
      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
      average.....
      PZN $2.4 million versus $61,000 for the
      industry...
      PZN price to sales(PSR)is 25 % above the
      average...
      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
      pupose?

      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.
      Here is
      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
      do.

      • 1 Reply to pascoe6
      • 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
        bounce.

        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
        way.

        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
        piss in.

        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.

    • you have been lurking on this board for months!! With a profile, dated june 4. Or to be able to guess your agenda!!

    • 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.

 
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