Some of us paid $1.92 a share for STON last September. They got an offer yesterday to be acquired at $3.50. I sold all my shares at $3.42. It’s not the double or triple I had hoped for in “two or three years,” but 78% in eight months is good enough. Chances are, if you hold another two months you’d et the full $3.50 — 8 cents on $3.42 is 2.3% which, for just 2 months’ wait, is also really good — but there are two other possibilities. Maybe a 25% chance they’ll wind up having to sweeten their offer; and maybe a 5% or 10% chance it will all crater somehow — which wouldn’t be so terrible either, because the company is probably worth more. So you wouldn’t be an idiot to hold on for the full $3.50. But you’ll recall Bernard Baruch’s famous answer when asked by a reporter for the secret of his success: “I always sold too soon.”
I haven’t written anything about the tragedy because I don’t know what I can add. The President said it all. All I can do is work to help elect people who are on what I — and 80% or 90% of the rest of the country — consider to be the right side of the gun issue.
Was this mass murderer — too young to buy a beer — part of a “militia?”
Was any militia he might have joined “well regulated?”
Designed to keep Texas “a free state,” secure from invasion?
Have a great long weekend, remembering those who died for democracy.
Contrast that with those in Congress today who won’t risk their jobs for democracy, let alone their lives.
Hats off to Liz Cheney and the few others who will.
Quote of the Day
It turns out that advancing equal opportunity and economic empowerment is both morally right and good economics, because discrimination, poverty and ignorance restrict growth, while investments in education, infrastructure and scientific and technological research increase it, creating more good jobs and new wealth for all of us.~Bill Clinton
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