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Corrections Corporation of America Message Board

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  • RetiredPaperman RetiredPaperman Dec 23, 1999 8:01 PM Flag

    is anyone here bullish

    observation on your part and there's a good
    reason why you don't see many people saying the stock is
    "a buy".

    The contributors to this board can
    be grouped into roughly three categories:

    The
    First group is composed of relatively long-term holders
    who are by definition way down on their investment.
    (Actually, a few very long term investors like RAUGAR and MK
    are way up on their initial investments.) In many
    cases we purchased additional shares in an attempt to
    cost-average down our positions. To us in this group, the
    predominant question is whether we should do some tax-loss
    selling or just keep holding on. That's why you don't
    hear us discussing the stock in terms of how
    attractively priced it is. Also, we know there are still too
    many unknowns and have been burned too many
    times.

    The second, much smaller group is composed of
    individuals who have never owned the stock but spend alot of
    time on the board telling shareholders how stupid they
    are. I don't understand the motivation behind this
    group, but I guess they spend their nights reviewing the
    New Lows list so that they can properly plan the next
    day's activities. Don't look for many Buy
    recommendations from this group.


    The third group,
    still very small, is composed of people like Kitty and
    Cleo who owned the stock and got burned at some point.
    They sold a good while ago which in retrospect was
    smart. They also drop in occasionally to tell the rest
    of us how stupid we are. We don't understand this
    group either, except we think cleo must work at a 7/11
    based on the timing of her posts. Probably won't hear
    any buys from this group either.

    Good luck.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • you said it all again, but as usual,oh so
      eloquently and proffesional sounding. The people who post on
      this board are definitely in the groups you mentioned.
      I have the misfortune to fit into the first group
      but I have learned one thing at least from investing
      in the stock market...you must constantly analyize
      the current market conditions and make the best
      decision you can about your postions with all the
      information you can gather and then, play your hand. After
      you see what is dealt you, you look at the facts
      again and have another go at it. Those who don't
      understand the fickle nature of stocks need a good money
      market savings account for their money and a new way of
      life. I, along with others do not appreciate the "I
      told you so types" who always seem to have the
      proverbial 20-20 hind sight. I would like to see all their
      other posts to see just how accurate they really are.
      You could take the stock opinions of a street person
      and single out the ones that prove to be on target
      (after the fact) and make them appear to be a brilliant
      forcaster of the markets...but what does that prove? I
      really appreciate the opinions of those who are in the
      same tub as many of us are and even the informed
      opinions of some of the other non-stock-holding posters
      who have the sole intent of helping us with their
      past experience and theie vast knowledge. I do not
      appreciate those who fit the other two groups that are often
      "hecklers" who can sometimes be heard to say "investors
      who...deserve to loose all". What garbage! They should spend
      more time pulling the wings off flies and
      such.

      Sorry to vent so much on the board but I submit we
      would all be better for it if all the posters would use
      their collective knowledge to help us all to make the
      best investing decisions possible. Thanks to all who
      use their energy posting informative and interesting
      dialouge on this and other boards.

      Good luck, happy
      investing and happy holidays.

      • 2 Replies to mr_jmp
      • I am a subset of group two. I was fortunate
        enough to resist the temptation to buy this pig for its
        high yield, but by no means am I heckling anyone who
        did. It's one of those 'but for the grace of God,
        there go I moments'. I do find it refreshing that some
        of the posts lately are starting to focus on a
        discussion of how to avoid costly investment mistakes like
        'averaging down', and holding all the way through a long
        decline. The long time posters here, especially the
        long-suffering ones, would do well to take advantage of this
        opportunity to reflect on ways to use this experience as a
        lesson learned the hard way, and stop wasting their time
        speculating about dividends, REIT status, law-suits, etc. It
        is a complete waste of time, energy, and the boards
        resources to have a twenty-four hour a day circle jerk
        about what is going on fundamentally with this company.
        Its all so tragically simple: this stock has been in
        a downtrend, and should have been sold a long time
        ago. Anyone who didn't do so is wrong. Period. When
        the share price starts to rise, it will be time to
        buy. Period. It is not more complicated than that.
        People who don't have the discipline to sell losers and
        buy winners should be in a money market acct., and
        stop bitchin' about how Doc is the Anti-Christ. No one
        made you ride this thing down except you, and only YOU
        can prevent forest fires. Now fire away. I'm sure my
        post is exactly what some of you didn't want to hear
        on Christmas eve, but it is my story, and I'm
        stickin' to it. Merry Christmas, and better luck next year
        to all PZN'ers.

      • I hear you. I am seriously evaluating my stock picking ability. This one definitely falls under the "if it sounds to good to be true" category when considering the yield we were supposed to get.

    • <EOM>

    • Thank you for your compliment and your comments.

      Are people concerned because of the low stock price, or because they believe the company could go under?

      • 1 Reply to tubo55
      • I can't speak for others but if I had to develop
        a worst-case scenario for a new investor it would
        be as follows:

        You buy Monday at $5.75.
        Blackstone announces later that week they've put in $300mm
        at $5. California never gets fixed. Interest rates
        keep going up. Some good Wardens quit out of disgust.
        Prison Operations problems increase. One year later
        we're a $3 stock. Blackstone buys the rest of the
        company for $4.

        I think that's the ultimate
        downside from here. While that downside doesn't look that
        bad (considering I think we could be a $14 stock in a
        year if alot of things went well) you have to remember
        that the current shareholders are tapped-out,
        pissed-off and run-down so there is no buying pressure
        coming from us. Plus, the tax-loss selling is vicious
        and will continue through next Friday unless there is
        a favorable announcement.

        That leaves
        potential New investors who I think are (correctly) taking
        the position that they want to see Blackstone's terms
        before they make a committment.

        As far as fear of
        BR, I don't think even our worst detractors believe
        that's a possibility. If Blackstone fell through we'd
        just stop all capital expenditures, cut the dividend
        to Litt's $1.50 - $1.60 and maybe deREIT. Probably
        would be a $3 stock for a while but no BR. JMO.

 
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