So I guess my 12.5% for one account and 0 for 4 in the other is fair.
I expected BD to have sold more. I guess that volume could have been all outsiders.
And if BD didnt sell more on the run above $15. isnt that positive given that they could have ?
$15.16 as i type with a new 6 and a half year high of $15.43 today.
TUES hasnt been this high since March of 2007.
15 year chart suggests the shares could go back to $30-35 over time.
While STC is still dirt cheap on an earnings basis, I paid about $9.11 for my shares back in June of 2010.
And now STC is trading above book value.
I can easily see STC going another 10-15 points higher but I felt it prudent to cash in at least some of my profit.
And a pair of insiders have sold shares after being buyers a couple years prior at just over $10.
May 30 05:33pm May 30 2013 STC Stewart Information Services Corp Morris Stewart Jr Director 10,000 Sale at $29.03 $290,271
Apr 30 04:15pm MApr 26 2013 STC Stewart Information Services Corp Morris Malcolm S Director 25,000 Sale at $27.41 $685,281
DDec 19 2012 MDec 17 2012 STC Stewart Information Services Corp Morris Stewart Jr Director 21,580 Sale at $26.70 $576,159
Sep 12 2012 Sep 10 2012 STC Stewart Information Services Corp Morris Stewart Jr Director 4,000 Sale at $20.18 $80,720
May 5 2011 MMay 3 2011 STC Stewart Information Services Corp Morris Malcolm S Chairman, Co-CEO 7,000 Purchase at $10.06 $70,426
May 5 2011 May 3 2011 STC Stewart Information Services Corp Morris Stewart Jr President, Co-CEO 7,000 Purchase at $10.12 $70,840
Mine is still not totally correct.
They are incorrectly showing a cost of $2067 for the 8 shares rather than $2120 and my tax basis on that block is showing as $258.38 per share.
The wording must have confused them because 39 shares= round up which =8 rights.
$2067=.975 of $2120.
So they appear to have undercharged me $53.
Im presuming they will find & correct their error.
They called back. All is well. Just an accounting issue.
I was fully subscribed in both accounts. Got 1 oversubscription share in my regular account in addition to the 8 and no oversubscription shares in my IRA.
So in all I got 9+4=13. Had 59 before (39+20)
Whew. Was concerned I was going to have to fight over it.
And the money returned. I called and they cant get thru to reorg.
Im hoping this is just a prelude to them correcting it but I fear the worst.
If they mucked this up, its going to cost me at least $1800 and possibly $2300-2400 depending on oversubscriptions.
In one account, they took out $2120 and $2067 and then later took the extra $53.
This time, they refunded the $2120 & $2067 but not the $53.
I think you are minimizing the potential future value of TUES if they can fix it and grow it.
A growth concept gets awarded a much higher multiple than a stagnant one.
Lets see...3 years from now $1.25-1.50 in EPS, a 20 multiple reflecting the potential growth and we're looking at potentially $25-30.
I dont think thats unreasonable. I hope they can earn more and sooner but Im being conservative.
The question becomes what discount rate do you use to get current value ?
15%= present value of $15.35-18.42. With short term rates being so low, a 15% discount rate is very reasonable.
If I sold out of TUES, my money would be sitting in a savings account earning less than 1%.
And, none of the above really accounts for the possible overvaluation that could occur after years of undervaluation.
All that stuff said, its a whole new ballgame now with the stock at $15 and 3 million in volume friday. Its reasonable to expect BD may have sold more.
And even if they did, it does not mean the company is going down. It means they made many times their money, faster than they probably expected.
Rational prudence tells them to lighten up.
Ive sold over 82% of my TUES from my peak. So what if BD sold 25-40% or whatever it ends up being, if they did indeed sell more firday.
This situation is just very interesting. And remember, Becker Drapkin has been known to get companies sold. They got TUTR sold within a year of getting involved and ditto for HOTT.
I cant predict who might want to buy TUES but I glanced at Yahoos competitors and saw that BBBY has a marketcap of $16+ billion. Makes TUESs $657 million seem pretty darn cheap by comparison.
Did he know anything last year when he bought ?
Jun 6 2012 Jun 6 2012 MDR McDermott International Inc Johnson Stephen Marcum President, CEO 102,368 Purchase at $9.64 $986,613
Jun 6 2012 Jun 6 2012 MDR McDermott International Inc Hinrichs Liane K SrVP, Gen.Counsel, Corp. Sec. 15,000 Purchase at $9.60 $144,035
Jun 6 2012 Jun 6 2012 MDR McDermott International Inc McWilliams D Bradley Director 10,000 Purchase at $9.59 $95,859
Jun 6 2012 Jun 5 2012 MDR McDermott International Inc Bookout John F III Director 150,000 Purchase at $9.33 $1,399,485
Not realistic. Didnt Biglari sign himself up to some kind of perpetual royalty for the use of his name ?
Apparently that applies to Steak N Shake revenues too.
2-3 centsof every dollar in revenue just because he put a sign of himself in every store. If anyone else ever got control.
BHs Corporate governance is whatever he says it is. And please, be quiet, the outside directors are sleeping.
(Just like the old ones at SNS were)
Noticed Becker Drapkin has over 5%. Cant easily see why.
(If you are one of the posters who mark the posts "strong sell", nevermind responding, Ive already ignored you and dont care what you have to say or why you got fired)
The burden of proof is not on me. I own the stock from much, much lower levels.
The burden of proof is on the one asserting its a short.
I can prove that my my last 12 TUES sales were profitable and my next several will be also. Unless the shares fall below $3.78.
My first TUES trade was at a slight loss plus commissions. Bought at $4.06, sold at $4.05. And bought more in between at $3.01.
It was LTF who got me to buy that first time at $4.06. In less than 10 months, the shares traded down to 51 cents. Thats an 87.4% decline for those keeping score at home.
Its amusing that he led me to TUES & ZLF & TA, none which were stocks I was interested in.
Im up nearly 6 times my money on my remaining ZLC shares, made many times my money in TUES.
And TA was a 4 bagger. But I still hold some of that.
Three multi-baggers. LTF sold way too soon on all three and his now shorting 2 of them because the stocks had the gall to keep going up after he sold.
My view is to buy stocks when they are cheap and then get the heck out of the way and allow them to go up with at least a portion.
I guess i should be glad he isnt shorting RCKY too because he sold out WAY too soon there also.
Or maybe I should be hoping he does short it ?
I dont short. But I will dance in the street if & when the Herbalife pyramid scheme is shut down and the stock goes to zero or nearly so.