Totally agree Bi-Lo. When these shmucks [and a few hotcopper members] where predicting sells, price targets of $10 - $14.00, the smart money was buying up. Some of us did really really well picking up shares between $15 - $16.00.
Having said that, often companies make very bad investment buys when they takeover certain companies [RIO comes to mind] buying at a wrong price or wrong time, however when they increase their stake in their own company or introduce buy-backs, that's a sign to take confidence in that they know a helluva lot more than these over paid under achievers who analyse and predict recommendations. When Hoetchief made the takeover offer of LEI for 37.5% of stock, it said to me LEI had some worth going forward. I still believe they are a good buy even at these levels, however waiting for the dust to settle and see how things pan out over the next few weeks when the markets globally look any reason to sell off.
Ultimately & I have often said, I doubt LEI will be listed on the ASX in the near future. At a calculated guess, H will clean up the remaining 25% sooner or later.
LEI Price at posting:
$21.80 Sentiment: Buy Disclosure: Held
