Let me explain myself. I still believe the company this management has put together can survive and thrive. Therefor, from the standpoint of market dynamics, management makes the grade.
But, and here is where the seeming contradiction comes in, the same management is showing no guts in its own plans. If what appears to be a great company has a stock selling at ten times earnings, why isn't managment out buying up every share they can flush out (both with their own money and our corporate money)?
Does this clarify my stance? I really do not consider myself a wishy washy investor. Hope this helps. Still want to see the buyback.
Being fairly familiar with BC I do need to remind everyone that BC has an ongoing Automatic stock Buyback policy in place. I agree with some writers that maybe they need to up this ante, but let's not pretend their not buying any at all.
As for MGMT as a whole at BC, my overall rating of Lake Forest
talent decreases parallel path with the stock price. The real class in mgmt w/in BC lies north of Lake Forest in Divisional business units.