Mc Rae Industries (MRINA or MRINB)

since i frequently miss to update my blog, here is one to complete the current series..

mc rae. i got forced to do more research on this when ameritade mishandled the cash out of minority shareholders in conjunction with a reverse split around year end 2005.

lots of small shareholders got stuck with unwanted paper. the stock which in the squeeze out had a take out value of 14.25 per shares quickly plummeted to 9.50.. i managed to mabz maybe some 50,000 bucks of the paper at prices from 11 all the way down to 9ish ranges. it looked like a safe bet given the panick selling.

since then mc rae has done just fine. and i am not referring to the stock price which sits now at 12.50..

speaking more operatinally here. the companz has reported 2 financial quarters. possting like 1.00 or so in eps for the half year. very nice results. the book value per share has since been boosted .. i think it is north of 14 bucks now. if i recall intrinsic value.. NAV is more like 17 because of real estate that is hidden on their books.

a safe bet for long term holders and comes with a nice dividend too. .

the panick selling is definitely over.

the panick buying has not yet started.

think this thing will be above 14 bucks by year end. and since it is a long term holding i dont care about selling here. no redeployment needs for cash anyway.

just figured, that here is a nice family controlled company that generates wads of cash.

nothing wrong with owning such a business for the long term.

so may you..

over and out. Z