I am a new investor to WEST and bought in on the big dip. I look for good companies (perhaps based on name recognition and past results) which are in need of a turn-around. I see K-Mart as a recent example with a new CEO and better grasp of inventory and customer needs. I am a local boat owner and shop at my local marine supply in Monterey by ordering from the West catalogue. Gets results and delivery next day without having to drive to Santa Cruz to nearest outlet. Hopefully, this locally based company will get its act together and turn things around. By the way, why not get someone from PLCE on the Board rather than GYMB? PLCE is another of my key holdings which has been a rather steady performer. Not as good at SKYW which is a superstar!!!!
I recently bought Home Depot at $41 and Oracle at $23.50. Trying to keep a few gorillas in the zoo. I am basically a value stock investor and look for low PE, below book value stocks with a good niche. Has been paying off quite well if you are patient.
Reasonable strategy, playing for turnaround in well-positioned companies. You'll do fine if there is a buyout. But some of us bought this "cheap" stock when Edmonson was brought in, and the stock now trades for a fraction of what it was then. I really wonder about the downside, even from here. How long can you fail, like West has failed, and remain in business?
I am hoping that sales will increase this spring despite a "recession". While new boat sales may be down, more fixing up purchases may ensue. Also, unemployed may have more time for boating and bring in the fish for the table. I am trying to be optimistic. Overall, I believe it is a good company in a good niche, but I have no first-hand knowledge of strengths or weaknesses of present managers. I looked a fundamentals of the past and present stock valuation. Perhaps new blood or expertise could get things going.