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6 pts

Opinion on  Sotheby's (BID)     Sector: Services  >  Industry: Retail (Specialty)
The POZI Scheme will fail

Nov 27, 2007 03:30 AM GMT
Barbaro
Return Risk
+3.11% HIGH
Associate

Fundamental Analysis  

Who Cares?

It's been a long long time since the banking system failed. Investment choices of old money controls the willingness to piss away $40,000,000.00 on a painting. In order for Sotheby to maintain it's image as a the great pompus ass of art dealers it places minumim guarentees on the auctions. A possible example would be when the market says a $40,000,000.00 painting is only worth $10,000,000.00 Sotheby is stuck buying the painting for $20,000,000.00 and then having to dump it descretly for $10,000,000.00

Last October's auction that cost Sotheby so much money won't be the last money pit they fell in to.


BID:  This call was made on 11/27/07 @ $35.1
Rating:   Negative   $35.1 (11/27/07)
Closed:   03/17/2008 @ $25.9 (+26.21% in 111 days)
Target:   $6.85 (-80.48%) in > one year


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