Thursday, May 10, 2007

I'm out

After sleeping on it, I sold CCRT this morning and bought more FMD. The earnings miss and a couple other things (fee rebates and lower return acquisitions) really bothered me. At this point I think management will have to execute perfectly to make over $4 in managed earnings and this is a very tough business with lots of uncertainty. I might own the stock again at some point but I like the risk/reward of FMD much better here.

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