Acquisitions is the dreadful word alright for this mob!. Hopefully this time they will be very cautious as stated. Lets hope they stay true to their words.
I used to own some BLY in the $1.7 range. But saw they reckless acquisition of drilling business in the US during Jun-Aug 2008. Management was very much gungho and arrogant, claiming no effect even when the GFC hit hard in late 2008. I sold out with my money back and never look at BLY since.
At the current 32c, it looks quite tempting again, considering their 2010 forecast. If you do believe them.
BLY Price at posting:
$3.20 Sentiment: None Disclosure: Not Held
