Sometimes...

Sometimes I really read some texts and I think..am I delusional or some are ?

Yes,of course I respect other views..Some think something is good other something is bad..
But when you see a company without production,with a market price lower than the breakeven,the company in a "buyback" and still the share falling down... I really would like understand where is the catch ?

I'm more than convinced some people have high level of difficulty to deal with the sad sad and dramatic true... The share KAR is "finished".

Yes,of course a miracle an amazing purchase of something with cash flow... But aside of such myracles,the normal management just say to leave and try somewhere else recover the loss..

I read a poster saying "he is happy to hold and even buy a little bit more..

Well... I also believe somebody can be masoquist... because be happy for what ?

The only real reason I believe this was written is to pretend some people still believe like trying to induce other to also believe and buy...Like acting in himself defense.

The only factual reality is:

a) the company is eating everyday the reserves
b) doesn't worth buy anything with such price and without clear vision when the market will turn (can be 2017 but can be 2020...)
c) our "fields" spend to come to production when the price is 35 and falling and they estimate 45-55 costing price.

Sincerelly the Company should have a board with real capability to deal with so adverse situation.

But maybe they will..

In the end of the day..they must create something to justify their next 10 years drinking and eating,isn't it ?

Cato