Friday, September 23, 2011
Volatility; QTM; Quantum; PRIS
On September 9, 2011, I wrote: "For now, my view seems to hold: the markets will be hit by repeated and volatile shocks up and down as the very real bad news is countered by the not so real attempts by policy makers to prop them up." Seems I'm ok on that prediction since then. One of my favorites, Quantum, is again riding the elevator up and down. Unless the company is worthless though, it's current price seems awfully low. I also picked up PRIS -- Spanish multimedia conglomerate at around $4 per ADR (representing 4 ordinary shares). This stock has traded as high as $13 per share in the last year. Somehow, I don't think it's worth that much less now but is, instead, a victim of the flight from Europe (which is, incidentally, not unwarranted). Plus, it has a low stock price -- an absolute requirement for me these days.