Revathi Equipment Ltd came into our radar some time september oroctober 2006. We thought the company is overpriced. But we love theletters that Mr Dalmia writes to his shareholders and we just wantedto be one legitimate recipient of his letters. But the price had to becorrect. Then the price was somewhere between 600 - 700 and still wethink the price is not correct, but the company is buying back. Thecompany is buying it's shares for prices between 600 - 700 with someshares being bought for 699 as well. And then we thought probably wealso will buy some, probably follow some smart money. Though ourreasons for buying are very rudimentary (no valuations, no pricedecline, not sure about 52 week lows) but we have bought some shares.We just wanted to be with someone who is so Buffet in his writing and probably in his thinking.
Updates on December 1, 2007 - purchase price = 680, selling price = 1400, holding period = 10 months, absolute returns = 100%
Subscribe to:
Post Comments (Atom)
2 comments:
Well Utti ... on a lighter note, an instance where the pen is mightier than the click :-)
Regards
Shankar
http://scrip-tures.blogspot.com
I think its time to restart this blog .. :D
SG
Post a Comment