Back to efficient markets, not only do the Wall Street computers know just about everything about everything, but day by day that information is available to people to you and and me. Here is an example, I was looking at CMG on Google Finance and it pointed to this blogpost. I do not know who Mr. Prewitt is, but he clearly put some effort into his analysis. What I learned from his post was the idea of Shophouse. WOW!!! And the cool thing is that next month we will be in DC in the Washington Hilton, so it is a short walk to Dupont Circle. I can't wait to try the restaurant.
Does this mean if we like the Asian version of this we would by the stock? Oh, no, no, no. However, it does mean that after I get to taste that food and I am VERY EXCITED, I will follow CMG a lot closer.
Meanwhile, in Gotham City, CMG is considering menu changes that could drive revenue. One idea is serving breakfast or having drivethroughs.
- Update November 21, 2012 CMG announced a stock buyback closed at 275.40
- Update December 3, CMG closed at 263.50, I am setting a buy around at 210.8
- Update December 10, 2012 I did get to eat at the Shophouse at Dupont Circle. It was OK, not great, mostly a college crowd.
- Update December 17, last closed at 286.74, up 9 dollars for the day, I am sticking with a buy around 210.8 and Mr. Market can school me why I am wrong.