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Compass Diversified Holdings Message Board

  • divyguy divyguy Apr 12, 2010 7:43 PM Flag

    Stop whining...

    the stock hit a new 52 week today and you guys are complaining about some dilution to fund acquisitions and growth of the company. if you don't think Joe knows what he is doing or don't trust that he will put the new money to good use then why are you invested in CODI in the first place. i know that nobody likes to see dilution and/or a short term hit in the stock price, but COME ON... if you are in CODI for the short term then you are in the wrong place. Joe was at least considerate of shareholders enough to wait for CODI's pps to be at a new high. on a side note... i thought it was kinda odd that $16.30 (today's high/52 week high) was exactly double my cost average ($8.15). i can understand that if you just bought in you might be disappointed with this share offering but when you look at the stock chart of CODI you'd be crazy to think it would just continue going up at the rate it has over the past year. GLTA.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Agree. I questioned the last secondary simply b/c I thought the stock was undervalued...Much different situation this time, as long as the proceeds are used efficiently. I will say that I'm not extremely happy with the last acquisition because they didn't exactly get a deal. 13-19x 2010 CF is not a steal by any measure.

      I can't help but think of ALD (they're a BDC) and their Ponzi like share issuance's that were used to pay dividends (read Einhorn's book). I feel that Joe and the crew are competent managers and deserve the benefit of the doubt, but I never blindly trust anyone with my money.

    • I know Joe also and think he is of high integrity. However, this dilution after a run up and acquisition is highly questionable. Sorry if I want to make money.

      • 2 Replies to antsyindapantsy
      • Sorry for wanting to make money?? We are all here to make money... duh. You mean sorry for wanting to make a quick buck... i can bet you that you will make more money off of CODI over the long term because of this share offering. selling shares when your company is trading at 1.3x book isn't such a bad idea. book value will increase because of this offering. i know CODI doesn't trade off of book like other BDCs do (CODI trades more off of Cash Available for Distribution - CAD). But with the recent acquisition and more to come, CAD will now have the opportunity to grow to new highs... stop being so short sighted!

      • There was plenty dilution the last time they issued stock.But look at the price when that stock was issued compared to where it is now.A favorable acquisition may well take this stock to new highs while in the meantime you are getting a nice return.

 
CODI
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