In and Out Workout and a Break

By Joe Ponzio on March 25, 2008 | 10 comments

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?

Written by Joe Ponzio on March 25, 2008

Joe Ponzio is the managing partner of the Ponzio Investors Funds and owner of Ponzio Capital Inc, a registered investment advisory and deep value portfolio management firm. The author of F Wall Street (the book and the website), his articles have appeared in hundreds of financial media, including Financial Planning Magazine, CNBC.com, Yahoo! Finance, and Reuters. He has appeared numerous times nationally on both radio and television, and has presented at universities and seminars across the United States.

Read more articles like this online at www.fwallstreet.com.
To learn more about Joe's portfolio management services, visit www.ponziocapital.com.

Also Filed Under "Workouts, Arbitrage, & Hedges"

The Discussion

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Allen
Mar 25th, 2008
47 comments

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

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night
Mar 25th, 2008
72 comments

That's awful, Joe. Best of luck!

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Howard
Mar 25th, 2008
18 comments

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

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Jerry
Mar 25th, 2008
6 comments

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
Mar 26th, 2008
4 comments

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
Mar 26th, 2008
3 comments

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
Mar 26th, 2008

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
Mar 27th, 2008

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
Apr 5th, 2008

Joe on twitter
Ponzio Capital

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
Apr 10th, 2008
1 comment

bummer about your identity theft. I just read a great article on this subject at http://fisher-investments...

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