A BOOK FOR YOUR CONSIDERATION
Ironically – fancying myself something of a quick study, I failed to read it when it first came out. I had assumed I’d more or less ‘gotten’ it in a blink – namely, that first impressions count for a whole lot. And, well, yes, that’s the simple idea. But its real-world ramifications turn out to be fascinating: everything from predicting divorce to predicting the surgeons most likely to be sued (often the very best ones), to understanding autism to understanding the subliminal power of ‘priming’ and the intractability of racial prejudice.
A brokerage firm called Morgan Joseph issued an extensive research report on our dredging stock (and, by extension, its warrants) a few weeks ago, setting a ‘target price’ of $8 (which would give the warrants we paid 70 cents and 38 cents for last year an intrinsic value of $3). I didn’t mention it at the time because, first, there’s no way to link to it; second, Morgan Joseph was I think involved somehow in putting the deal together, which is always a reason to grab the nearest grain of salt; and third, well, who the heck is Morgan Joseph?
A few days ago Motley Fool ran this, answering at least that last question:
One savvy pro ranked high atop the CAPS charts is Morgan Joseph, a full-service brokerage headquartered in New York City. As of this writing, Morgan Joseph is ranked 194th overall in CAPS (and 10th among professional analysts), having crushed the market since last September with 63% accuracy.
A ranking of 194 won’t get you into Wimbledon on the professional tennis tour, but with nearly 21,000 participants in CAPS, Joseph’s score puts it ahead of 99% of other investment portfolios. Pretty impressive.
It’s important to stress that this by no means guarantees any further success with GLDD. But it’s still better than a kick in the head (unless you have a tarantula sitting on your head) . . . and one more reason I suggest that (so long as you have bet only with money you can truly afford to lose, because you might) you not sell your warrants, which still have two years to run yet carry a premium of less than 15 cents. (Though if you have a tarantula on your head, you probably have more to worry about than whether or not to sell your warrants.)
Colin Ramsey: ‘Poor Texas? Yes, but poor all of us. She will be greatly, greatly missed.’
☞ But she would have wanted you to listen to this, from Keith Olbermann, if you’ve not already tubed* it:
KEITH OLBERMANN ON THOSE 96 WORDS
*I Xerox, you Xerox, he Xeroxes. I tube, YouTube, he tubes. Amo, amas, amat.
Quote of the Day
Yap islanders ... use special kinds of stones as money. ... Some of them are too large to move, but everyone knows who owns them.~James S. Duesenberry (Money and Credit: Impact and Control)
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