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Maybe Block Should Have Sold!


Parsad
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Sino hit $7.12 today!  Maybe Block should have sold when his bear raid was plentiful. 

 

If Chandler pushes for change, and gets control, this thing could easily go back over ten bucks plus.  Cericwb's purchase is looking pretty good about now, I guess!  Cheers!

 

http://www.bloomberg.com/news/2011-07-26/sino-forest-advances-on-speculation-billionaire-chandler-will-seek-changes.html

 

 

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Wish I had bought more!

 

True story. Last week I was getting ready to put in a buy order in the $3.60 range. Then I got caught up in posting to this board, forgot to put the order in, went to lunch and when I remembered I hadn't put the buy order in the price was well over $4.00 so I decided I would wait to see if it slipped back again. That $4.00 looked pretty good today when TRE was in the $7.50 range.

 

C'est la vie.

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Richard Chandler boosted his stake in Sino by 50% yesterday to 15% of the company. I believe their average price was $7.30 for yesterday's buy.

 

TORONTO,July 27 (Reuters) - A large Singapore-based fund has increased its stake to nearly 15 percent in Chinese forestry company Sino-Forest , which has been accused of fraud, sending Sino-Forest shares higher in early trading on Wednesday.

 

The Mandolin Fund, run by New Zealand-born billionaire Richard Chandler,disclosed on Wednesday that it bought more than 5.3 million shares of Sino-Forest on July 26.

 

PS. It is rather surprising to see that TRE has probably been the safest place to be as the markets have tanked over the past few days.

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On the subject of people being out to lunch.

 

Perhaps if we all went out to lunch at the same time maybe we could provoke some sort of settlement with those clowns in Washington because the TSX is starting to get depressing and I really don’t want to go back to 2008 again.

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Going to lunch has a strange effect on stocks posted on this board.  I recall in 2006/07 when Sanj. went for lunch and came back to find FFH up around $20.00... it never went back down.

 

You know, maybe that's why Fairfax's stock has been somewhat stagnant the last year and a half.  I brown bag it almost every day, because I like to sit at my desk when the market is open and into after hours. 

 

Alnesh gets a little peeved, because he and his accounting partner like to go grab a bite every other day, and I hardly ever go because I always bring lunch.  Andrew and Glen know to call my office number then, and they'll always get me on the phone.  I think I remember hearing Jim Pattison say he always eats lunch at his desk.  He gets an extra hour or two of work done by not going out for lunch.

 

Although, I did go for lunch last week with an old MSN boardmember who was in town.  How many of the oldtimers here remember "Marpro"?  Marpro was with us right in the heyday of the short attacks.  He had some good verbal spats (along with myself, Uccmal, Bsilly, etc) with the various aliases of John Hempton.  Anyway, Marpro still follows the board, but doesn't post.  It was nice to meet him and have lunch!  I believe Fairfax stock was up $6 that day!  ;D  Cheers!

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