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Columbia Sportswear Company Message Board

  • amanuen2 amanuen2 Aug 24, 1998 10:44 PM Flag

    I'm as disappointed as anyone but

    the reality is that the slide probably has less
    to do with the company per se than with the sorry,
    hysterical state of the market (and our shortened
    attention/expectations span). Remember, the IPO came at a time when the
    DOW was almost 1000 points higher, so everyone who
    bought COLM then paid a premium; I jumped in a little
    later, at 20, so I too paid a premium-- especially when
    you consider that small caps have done worse than the
    DOW.

    Today's chart suggest that a fund may
    have unloaded some shares-- not a great many but
    enough to drive the price down by more than 4%. Why?
    Maybe the manager didn't like the recent debt news--
    precisely because at a time of general volatility it
    doesn't seem very prudent to go into debt. Notice also
    that COLM's slide continues to be in concert with the
    sector-- which may be paradoxical, considering that it's a
    quintessentially domestic sector-- but there you have it. Contrary
    to expectations, other segments of the retail sector
    aren't doing well either. Go figure.

    I heard
    today a talking head say either the small caps would go
    up or the blue chips must go down-- in which case
    I'm afraid the small caps would go down, too. I, for
    one, prefer paper losses, so I'm staying in (although
    I've had occasions to regret my
    obstinacy).

    Good luck to all

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59.47+0.17(+0.29%)Jul 28 4:00 PMEDT