Pier 1 Imports Stock

In March, I wrote about Carlos Slim Helu on Stock Investments and Pier 1 Imports; at that time the stock price of Pier 1 Imports was about 15 cents.  This stock price has risen to about $1.80, driven in part by insider buying worth over $2 million dollars by Greek Investments Inc.   I didn’t buy the stock at that low price because I thought the company would file for bankruptcy.  Greek Investments Inc. could have bought the stock at that low price but did not.

I am going to make a speculative buy of shares of a REIT that is involved with commercial real estate in Southern California, hold it for a year and see where it goes.  The stock price is about 60 cents now.