I disagree in part speves. Imo the sentiment is bad because the fundamentals have deteriorated so dramatically (from testosterone induced overconfidence imo). It defies belief that Gloucestor can be sold for a $221m profit and 12 months later Lucas are unable to pay the tax on it.
My belief is that value has been squandered, particularly in a big overpayment for McNeil drilling.
The SP has dropped a lot and I like buying companies that are turning around operationally. May be due for a small bounce but imo its too early and the haemorrhaging from its core operating businesses will continue for some time yet, and need to be funded from somewhere. Could be volatile and imo is still susceptible to a drop from further bad news. Tend to like its longer term prospects.
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