I started my rebuying program of/in GSL in the low $4s, second buy at $3.70, etc with a larger aggressive double buy recently at $1.79. However, I'm interested to know if Bearle actually held ALL shares all the way down (rather than selling) or not, as he is one of the bigger individual (Yeah Cale, I'm ignoring you, and your Tarpon 'folio Floridian flora and fauna fish buddies, lol) holders here, as he had 167K shares, and was valued over $1M when was $7+. Personally, I think that is too much exposure to a 'one trick pony' company like GSL, but what do I know, lol. I mean, heck, I'm already eyeballing (Rocky would say licking obsidian) my 20% two week gains on the most recent low-ball grabs, because I feel I am overweight not just in GSL, but shipping sector overall. So, the DDCs have left the building. Generally, I feel that's a good thing. Costco is always easier on my wallet compared to Macys, except I sure do like the pretty counter girl there, I just can't figure out what she really DOES all day. Must take at least an hour just to put on her lipstick. Must be nice to get paid doing nothing just to look pretty and smell good. Kinda like GSL stock now. Minus the lipstick, lol.
Yes, still here with a bloated position that I expect to hold for the foreseeable future. I did some minor selling at 6.00 and again at 5.00 to address some real estate opportunities that presented themselves, bought some back in the 4.00s and pretty much bought all original shares back at 2.15-2.25 and then a "final" recent large buyback at 1.85. Total stake spread throughout a number of accounts is ~205K shares. Yes, in retrospect I should have followed your sagacious advice and dumped the entire stake at 7.00. I did take some profits but clearly not enough given the precipitous drop. Considering the gains recognized though, my average cost is right at $2.00 and I remain positive about that. I still believe in my original thesis for GSL and am content to wait another few years to see it play out. I will say that another small cap, WPX now on the Toronto exchange but previously on the Canadian venture exchange) has kept those GSL missed profits from causing too much angina. I took a major stake at about .50 and sold at 1.50 and then jumped again after a drop back to .73. It is now at 1.27 and they recently published a very positive pre-feasibility scoping study. I mentioned this on this board about a year ago and I still think it is a worthy look. I look for it to be taken out by one of the big boys within a year or two at between 3 and 4 dollars Canadian. I also had a serendipitous gain with SFL which I had originally bought under ~6 and sold in the low 20s before the FRO counterparty issue took on wings. I recently bought a stake back at 10.35. Of course, I had some not shabby losses on TNK, TNP and MT to help offset those gains. Bottom line is that I plan to stick with Ian and GSL, hope that CGM holds its own through the lumpy global growth story and see a return to the 7.00 share level. At that time, I'll probably pull back to about half the current stake and relax with a nice divy down at Panama City Beach. Cheers!