Sometimes you hit, sometimes you miss – Miranda Technologies

I was relatively close on pulling the purchase trigger on Miranda Technologies (TSX: MT) – my initial accumulation price was set to be a shade under $10 per share, and they got down to $10.26 before they agreed to be purchased for a $17/share cash bid.

So in other words, I had no position when they were taken over for over a 60% premium from the previous day’s close. Yuck.

It’s painful to see a bunch of research get dumped down the drain in such stellar fashion. That said, one could have inferred something may have gone on with respect to a so-called “strategic review” of the company that has been going on for some time. Such reviews may or may not result in takeouts with premiums, so it is always wise to take such information in balance.

I’ve been nibbling on a slight bit of equity over the past week. I’ve added one new name, and added to an existing position, and added a position in a company that I have owned before. I still have 71% cash.