3 O'Clock High: Bullet Point Thursday
"Engaged?! I guess I shouldn't have given him all that milk for free"
Better Late Than Never
After a much publicized delay, the "belated" Easter arrives this weekend. If you run a retailer, you've been waiting for these days since about an hour after the last of the Christmas presents had been opened.
In keeping with the ideas of martyring (my pride) and long-pondered returns, I got long specialty retailer Coldwater Creek (CWTR) this week for the first time since I held it for the partners at my hedge fund. Like a jilted girlfriend who goes on to win Miss America, Coldwater hasn't exactly let the grass grow under its feet since last we were together...
Coldwater Creek: 24 Month Chart (Courtesy of BigCharts.com)
Why go chasing now?
Because I think CWTR is going to have an outstanding Easter and I think they still have room to grow.
It's expensive at 55x Earnings, specialty retail is wildly risky and the stock is near all time highs (with a big gap higher in the rearview mirror). CWTR is still a relatively small dot on the Street's radar, with 13 analysts bothering to cover it. If they execute the stock, like the company, can get much bigger.
And if they don't I'll rue the day I didn't quit while I was ahead, regardless of how well CWTR did while we were apart.
Better Late Than Never, part 2
Microsoft (MSFT) has finally officially shipped the Xbox360, 5 months after the hyped release date. The product is actually available on store shelves and the price on Ebay (EBAY) has fallen to roughly MSRP.
Because I'm the kind of guy who does his product research in a hands-on way, and because I'm an overgrown 12 year old, I purchased one of the consoles and have been testing it over the last few days while Jeffmacke's Wife and Daughter spent time in the homeland.
Was it worth the wait?
Not really. Microsoft doesn't get a pass for hopelessly screwing up the release date. With an irony the gaming software industry thinks of as "Less funny 'ha ha' than funny 'screw Bill Gates'", many of the titles available are glorified demos, having been rushed to market to meet the scheduled November release then languished on the shelves.
That said, from the perspective of my sworn enemy, the Hun, the console came out much too soon to save them from the wrath of video Jeffmacke and his scrappy band of devil-may-care dogfaces.
Better Late Than Never, Concluded
With the graceful poetic timing of Life, Todd-O just gave me a call from "Giddy-School-Boy-Ville" where he is celebrating the day Vito and the rest of the guys at the club thought would never come: His engagement to the luscious Miss Luscious!
Truly, better late than never, my man! All the happiness in the world to you both. I've got "July" penciled in for the bachelor party.
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