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Strategies & Market Trends : Buffettology -- Ignore unavailable to you. Want to Upgrade?


To: Michael Burry who wrote (1677)7/14/1999 4:16:00 PM
From: Freedom Fighter  Respond to of 4657
 
Mike,

You're touching on a very sore spot with me here. I bought RTRSY in the 50's in the middle of 1997. It immediately ran up to about 70+.

A few months later there was a NY Times article about potential theft of Bloomberg proprietary information that included a big investigation and lawsuit. I couldn't quantify either the financial or business risk.

I sold the stock at a reasonable capital gain plus a cash distribution. (When I bought they had a ton of excess cash on the balance sheet that they decided to pay out).

The controversy then just faded and I still have no idea what's going on. The stock, of course, has done well since my sale and was an enormous bargain in between.

Rats! Double Rats!

I agree with you about the qualities of the company. There's a ton of
things to like. When I first bought in I thought I was stealing.

Wayne