According to my broker, shares in ArmorGroup International (ARG/LN or AMGPF/OTC) closed yesterday at about USD $1.46. That's back to where it was before plunging 11% last week after announcing its year-end results would be marginally lower than expected.
Anything could happen -- as you've read me write repeatedly, there are risks with this pick. The pipeline of projects could dry up, for one thing. So even though I'm cautiously optimistic about ArmorGroup, there are no guarantees.
But the past few days remind me of the importance of having a strong stomach when applying the value approach. And also the importance of buying at a bargain price. ArmorGroup was first recommended on Controlled Greed.com last September at USD $1.03. Even when the stock price sank a bit last week, we were still profitable with this investment.
The ArmorGroup roller coaster is back up, at least for now. Let's hold on and see where it goes from here.
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Ideas?
Posted by: Jason | January 23, 2007 at 11:23 AM
Jason: I'm looking into it. Apologies for any inconvenience.
Posted by: John | January 23, 2007 at 12:10 PM