Purchasing W Holding Company, Inc.

Posted on February 6, 2006 , Filed Under Stocks

I’m back in WHI, W Holding Company, Inc. Today I purchased 1000 shares of the stock at $8.15. I expect to sell WHI in 1-3 months for $9-$9.50. The company delayed its 4th quarter, 2005, earnings report until an audit committee reviews a few different accounting matters. It is expected that the review could amount to a cumulative non-cash accounting charge of up to $12.7 million, net of taxes. I sold my original position in WHI in order to free up cash to purchase BGO, Bema Gold Corporation and potentially short airline carrier stocks. Investors who follow Raw Greed and who purchased WHI, but did not follow my sale of the stock, will have made a good return on their investment. WHI split 3:2 on January 11th, 2005. In retrospect, I should have held onto my 2000 share position of WHI. My cost basis would have dropped from $8.44 to $5.62. At today’s current prices my gain would have been between 40-50%. My original post about WHI is located here.