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In and Out Workout and a Break

March 25, 2008  |  Joe Ponzio  |  about:

I jumped in CCU last week and got out on Thursday (with a 6.5% gain) because I didn’t like the bickering and I didn’t want to get slammed over the long weekend. When the companies and/or banks fight, investors usually lose. Considering that there are enough workouts out there, I’m walking away from this for now.

On a personal note: I just found out (yesterday) that I am the victim of identity theft. I’m taking a break here for a bit (days, maybe a week or two) to get this straightened out with the police and my attorneys. During that time, I’ll be answering comments, but don’t look for any new posts.

Fun, no?

Joe Ponzio

By Joe Ponzio

March 25, 2008

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The Discussion
( COMMENT ON THIS )
Allen
Allen
March 25, 2008 at 12:19pm

That stinks. Hope you get it all straightened out with minimal damage.

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night
night
March 25, 2008 at 12:26pm

That’s awful, Joe. Best of luck!

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Howard
Howard
March 25, 2008 at 1:35pm

That really sucks! Hope you are able to get that solved very easily.

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Jerry
Jerry
March 25, 2008 at 2:13pm

Nice timing Joe! CNBC just announced (3:10 PM 2/25/08) the deal is dead! The banks don’t want the risk.

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Stephen
Stephen
March 26, 2008 at 8:33am

Joe,

Maybe your next blog topic can be “What I’ve learned about Identity theft”. Sorry it happened to you, it is a fear we all are living with these days.

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Larry
Larry
March 26, 2008 at 10:44am

Had the identity theft problem. Be prepared to be considered guilty until proven innocent. The only surprise is how it doesn’t happen MORE often than it does.

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Steve
Steve
March 26, 2008 at 11:52am

I was interested in looking into CCU after the 16% decline today however the balance sheet shows -$18B retained earnings and most of the shareholder equity coming from capital surplus. It seems like CCU is too weighted down by debt to ever consider as a long term investment. What do you think?

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Rene
Rene
March 27, 2008 at 8:21pm

Sorry to hear about your problems, I take security pretty seriously, but we are all vulnerable. Hope you can resolve it fairly quickly.

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Joe Ponzio
Joe Ponzio
April 5, 2008 at 12:28pm

I got lucky to get in at a good price and out at a good price. The decision to exit (I think) was the right move regardless of the results. The small gain was a bonus.

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awfrey
awfrey
April 10, 2008 at 5:27pm

bummer about your identity theft. I just read a great article on this subject at …

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