well, CODI haven't acquired a new platform business. It's not true that they haven't made any acquisitions. It's just that any acquisitions that happened were bolt on. And certainly not of the size and scope (in aggregate) that would please investors.
We probably got the best of two not-so-hot choices though. Choice one was to walk away from the two pending acquisitions and look for better places to deploy the cash. Choice two was to buy a dud or overpay for an ok company.
When you frame it like that, I'll take choice one.
Yep--the secondary was a huge mistake since no acquisition has happened. With the acquisition timeline given in the last call, it becomes a bigger mistake each day with more to come. Countering that is the sudden surge in temporary hiring.
I have seen no news that I think would justify negatively impacting CODI, other than political uncertainty. (Although CODI is not a BDC, interestingly, it's price trend and pundit analysis seems to frequently paralell the BDCs, which you know have been beat up for the past week.) CODI is only about 10% off its recent highs, while the overall market is about 5% off (?). Throw in CODI's ex-div for another 2%, and we have accounted for about 7% of the 10% decline.
The technical charts do suggest more downside ahead of us with CODI.
I'll add more shares if we get down to what I consider attractive prices.
O/T: Fox's online posting for new hires was updated yesterday showing 4 of 7 jobs either filled or pulled.