It will be interesting to see the results Thursday. (The growth rate may not be sufficient for this board.) The fundamentals are so attractive but trading conditions will be critical, as ever. I have always liked this company (and have a holding).



first let me say that I appreciate the perspective you bring to this board and value your opinion (or at least I read your posts thoroughly).

I hadn’t looked at this company before you posted this and unfortunately it slumped today on earnings and future guidance.

I read this article from MF trying to get a better understanding: http://www.fool.com/investing/general/2016/04/28/why-ipg-pho…

and what concerned me was one time revenue generating events, higher operating expenses, and the unfavorable swings in foreign exchange losses.

My question for you is this a normal quarterly report? Does management increase operating expenses often (or are they out of control) and do currency swings eat profits often?


Yes Robert, I apologise for mentioning IPGP here, clearly a waste of time. To my mind, the story has changed insofar as growth is concerned and I have sold as it no longer fits my criteria. I did not have it down as a value trap but there you are; that’s why they are renowned, or should I say, infamous. Your questions probably reveal that I should have studied the company more closely.