On 12/9 (post 4648) you wrote that PFIE was a small holding in your portfolio:
“PFIE – This board has been full of PFIE discussion over the past few weeks. You can’t miss them. I wouldn’t average down but I’ll hold and wait and see.”
Did I miss PFIE in your year-end stock reviews, or have you jettisoned this position, and if so why?
Similar question about SYNA? Thank you.
investment here rests on if PFIE bookings are tied to oil price. One can make an argument that there are such a huge number of rigs that need burner management systems that even if new rigs drop off a cliff they have a big enough addressable market to get new business and keep growing. On the other hand I don’t think anyone expected this large of a drop in oil prices which could bring investment to a standstill thus no burner management systems.
Personally I plan on waiting until this next earning release where we should see what has happened in the market. Lots of legitimate concerns are up in the air until we see what happened this quarter.