Saul (and others), Does PN interest you again, with the 9.50 offer on the table? Why or why not?
Hi Paul, No, I quit following PN when I said I was getting out. The reason was that I didn’t understand what was going on, with the law suits, the CEO owning the biggest customer, and all the rest. When I don’t understand what is going on I try to avoid the situation, except when a lot of people I have confidence in understand it and say that it’s okay. Now, with an offer on the table at $9.50, and PN selling at $7.69, that’s ridiculous and I don’t understand that either. Someone clearly thinks due diligence will derail the offer. There just seems to be something that’s not right. May I say, something fishy, about the whole thing. A very low PE, an offer of $9.50, and a price of $7.69…No way! Something is wrong about this picture.
Now I may be wrong and missing a great bargain, but I’ll just miss it.
Saul