Monday, June 15, 2009

Harry Winston, Please Don't Bring Me to Tears!

HWD was recently upgraded multiple times, but going through this retracement is kind of painful. I'm still not breakeven on my entire position - but getting very close. It felt so good to be +100% with part of my position while it lasted though.

I'm just trying to focus on the longer term, telling myself I'm not delusional and hoping that it'll reach the target price that many of these banks are aiming for, which is in the range of $7-9. I have much higher expectations of HWD though as its
book value is $11.45.

Christie's recently had a good auction, selling another
blue diamond for a total price of $3.5 million.

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