Drove by the local Macaroni Grill today on two
different occasions and there were tons of people waiting
outside. The wine jugs were outside also. This is one of
the big food days of the year, and certainly at that
site, it was as busy as I've ever seen it.
Art Bonnel of Bonnel Growth Portfolio discussed
EAT during Stock Picks on CNBC today. He thinks we'll
see growth in the next few
Restaurant Stocks were discussed on CNBC this
evening. While the rest of the market is mostly down,
restaurant stocks seem to be booming at this
EAT is up 53%
Restaurant Stocks Rally reports Phil LeBeau this
EAT is up 53% since March 8
Sales during Q2
have been exceptionally strong. As long as the
unemployment rate stays low, some analysts believe that
Restaurant stocks will post sales gains
They've all had nice runs in the past two months
or so, except YUM. Compared to December and January,
this is heaven, even after the pullback. Macro
fundamentals for the industry are still great. Pullbacks
present an opportunity to accumulate more shares. There
is a nice quote from Buffett posted on one of the
boards I visited yesterday so will have to paraphrase:
"Be fearful when others are greedy and be greedy when
others are fearful."
So we hit $35. Did you short? What is your price
goal now if you did. You know me for a long time and
my outlook. As I said awhile back when our stock was
much lower and you were talking shorting then (and we
have seen what has happened with our price rise) that
I think one is playing with fire to bet against
current management and their Board of Directors
especially in light of the announced buyback.
my opinion of course.
Anyway good to hear
from you again.