A Pirate Attack !!!!

One of the stocks I had bought using the formula is PW Eagle. They do some sort of piping for houses and buildings. They have actually been the best performer over the last 2 weeks - up 14 %.

Just Friday they have been targeted by a Pirate. A very aggressive hedge fund / MA fund called Pirate Capital has bought 18% of the outstanding stocks. I usually invest in large companies - so nothing like this has ever happened to a company's stock that I own.

I was intrigued - and researched the Pirate. They are very interesting - you can find a lot about a fund like that through the very public SEC filings.
- Pirate targets smaller companies - 100 million to 1 billion market cap
-they buy 5 - 20% of the outstanding shares, sometimes working with other "raiders"
- then they pressure the hell out of the existing management - start nominating new board members and attempt to force actions that they think will enhance the stock price.
- Some of the recent targets have been WLT GY CNR -- I never heard of any of these companies either, but it is very informative to follow the actions of the management and the virtual attacks of Pirate Capital
- most of the share values have gone up quite a bit, but the history of the Pirate Fund is only about 1 1/2 years

I feel pretty good about the shares I bought using the Formula - I guess somebody else used their analysis and decided a company was very profitable and undervalued - they just have a Billion dollars to follow their ideas....