wearmanyhats

One stock I’ve been watching carefully is Abor Realty Trust (ABR).  It caught my eye when I saw the incredible dividend it was offering.  But what really struck me was the sheer number of insider trades which had been occurring.  The CEO even bought 3 MILLION shares on June 3o.  That’s an incredible vote of confidence in the company, and  I thought seriously of buying several thousand dollars worth.

So why didn’t I?  Well, I’m chicken.  I have access to the reports like everyone else, but the sector makes me nervous.  ABR owns many mult-family commercial buildings, and with the financial sector tanking, I wondered if maybe there won’t be another downturn after this brief rally. 

One thing that struck me about ABR was that when I pulled up a list of five competitors, none of the competitors had a positive number in their profitabiltiy statements.  ABR was the only one that did.  I think that bodes very well for the firm.

Of course, the stock went blitzing up about over 35% since then.  But I’m watching it carefully to see if more corrections could put the price back to earth for a while.  Then I might jump in.  I fugure if I miss out on the upward rise of such a stock, it wasn’t meant to be mine.  If I felt better about the financial sector, I’d be kicking myself.  But as people have to put gas in the car and businesses struggle, jobs get lost. The financial sector still has a bottom to find.

It’s almost getting to where anyone could cherry pick some long term financial sector investments. Since  I believe we could still see futher drops in the market as a whole,  watch for issues like ABR, RBS, etc.  The sector will go back up someday, and one might as well ride the surf when it does.

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