Knowing When to Fold ‘Em
In my years of investing and observing the markets, I have come to the conclusion that one of the hardest decisions to make in business is knowing when to throw in the towel. Some businesses, for whatever reason, simply cannot survive for much longer in the future. Examples are numerous throughout history: you could have been a horse and buggy manufacturer in the early days of the automobile, a netsuke carver in early modern Japan, or Blockbuster in the age of Netflix. Typically, management of troubled companies is often slow or unwilling to acknowledge that their best days are behind them and they often take shareholders with them as the company enters a period of long decline. In other cases, the management of…
Read the full article at: http://seekingalpha.com/article/3985154-winthrop-realty-trust-rare-profitable-exercise-liquidation-investing