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  • Why We Doubled Our Position in Borders
    good luck but i cannot resist the feeling that you still rely on some "greater fool" who buys bgp and thereby bails you out. bgp might be worth 14$, fine. If nobody wants to pay that and BN, for instance, doesn't see enough value for itself to spend money on borders than you may be sitting with your shares for another couple years while the business continues to erode. after all, didn't you acknowledge that "you don't like Borders' bussiness"?
    unlike distress investing in bond insurers like mbi where at least time is on your side, here it is quite the opposite.
    i held borders myself but immediately exited after their january quarterly report with a small profit. i do not like the prospect of ownong a bad business that erodes day by day - even id i pay 50ct on the dollar as this dollar may soon come down to 50cts
    Apr 18 04:15 am |Rating: 0 0 |Link to Comment |View article
  • Borders Keeps Us In Suspense
    Borders looks more and more like a value-trap, plain and simple. Perhaps the company could have done better and there was real value to be found but the overall financial mess has changed the game significantly. The u.s. economy is set for very tough years ahead and this exactly the kind of environment that is the most deadly one for a company like borders. i held the stock a few months ago but sold out at about $12 after the quarterly report was disappointing to me. I would not bet any money on it - i simply don't see any edge here. maybe ackman does, but to me this is a risky play. not of bk and going to zero, but of dead money for a long, long time
    Apr 07 03:39 am |Rating: 0 0 |Link to Comment |View article

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