Friday, February 23, 2007

Fear!

There were lots of stories today about the subprime mortgage sector blowing up, so of course CCRT falls another $2 to $33 even though they don't have any subprime mortgage debt. You should now be completely convinced that markets are not efficient or rational in the short-term. The stock is being treated like a piece of trash and is now trading under 7 times conservative forward estimates. What's that saying, "Be greedy when others are fearful." Yeah, I like that.

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