Who is Charles H. Brandes and why did he buy 1.4 million shares of DRL?
Could it be that a self-made billionaire knows a little more about value than the trash-taking know-nothings that put down DRL on this board. You have a search engine: input Charles H.Brandes and click. Don't bet the farm on DRL but buy some with a 3 to 5 year view.
Watch Dreman on CNBC next time and tell me he's astute. He sold out all small cap financials in the last 6 months because his small cap manager resigned as of 12 /31 and Dreman knows a great deal about 25 stocks, and hates small caps. Having said that he road the GSE's-Fannie and Freddie- all through their debacles. Is he astute? Or, suffering from something else?
Meyer Rothschild has been credited with saying that the best time to invest is when there is blood in the streets. Dreman is a great investor, yes but every time I buy a stock thinking it will go up I understand that I am buying it from people who are probably equally convinced it will go down. As for DRL: there is blood in the streets, but is this it real or an illusion? I say hang in there.
Back in 2001 or 2002 Warren Buffet bought USG at $15 before it went to $3 and some thought he had lost his mind. Then last year USG traded over $100 per share. Sometimes a good buy will go down before it goes up. I am not sure about DRL but with Moody's and Fitch having DRL rated as they do, I am not too concerned about the downside from here, and it certainly has a good upside. I too think the best deal would be to sell the whole thing now. That's my opinion.