While there are those who believe that RICK management is incompetent, I would remind them that Eric Langan started RICK with capital he raised by selling his baseball card collection. If anyone else has a baseball card collection that was worth enough to start a strip club, please stand up.In addition, if anyone else can parlay a baseball card collection into a $100 million company, I would like to give them my money to invest as well. So it is my belief that Eric Langan is essentially stalling because there may be something else going on. I have no way of knowing for sure, but I believe that management may be debating taking all or part of the company private, which could explain the delay in the REIT. Perhaps the buyer wants the whole thing - or only part of it. In the event of a buyout, I believe that the combined value of all of the parts is $18-22 per share, and I think that we will know a lot more by the end of the year. Eric Langan is sitting still for a reason. I don't know exactly why, but I believe that shareholders will benefit. To learn more about investing with the portfolio managers on Covestor, contact our Client Advisers at firstname.lastname@example.org or 1.866.825.3005. Or you can try Covestor's services with a free trial account. DISCLAIMER: The investments discussed are held in client accounts as of July 31, 2013. These investments may or may not be currently held in client accounts. The reader should not assume that any investments identified were or will be profitable or that any investment recommendations or investment decisions we make in the future will be profitable. Investments in securities of small-cap and growth companies may be especially volatile. Past performance is no guarantee of future results.
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