Friday, April 06, 2007

More CCRT Thoughts

Some of the bears point to John Devaney's partial sale of CCRT shares as a ominous signal, but knowing that he was facing a margin call and that he still owns a significant amount of shares makes me think the opposite. I mean, here is a guy that is an expert in buying and selling distressed securities and he's so impressed with CCRT's management that he became one of the largest shareholders in the company. As far as I know, everybody holds management in high regard, and for good reason...they have made nine deals in the past and all of them have earned nice returns.

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