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Alex Filonov
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I was born in 1956 in USSR. After graduation from college in 1979 I worked full-time as an IT specialist. Until 1990 I worked for different companies in the Soviet military industrial complex. I created a small software business in 1991, which failed in 1993. I worked for Oracle Corp in 1995 in... More
My blog:
Muddling Investor
  • Why I Reduced Restoration Hardware Position 0 comments
    Mar 11, 2014 11:36 PM | about stocks: RH

    It looks like I found this stock too late. I like the stores, I'm sure that they sell stuff appealing to rich home owners. But there is a small problem. There is nothing unique in the stores. OK, they recover, restore and sell beautiful (and not so much, but beauty is in the eye of the beholder) pieces of hardware for home decoration. But... Last Saturday I went to Home and Garden show. There were a lot of companies selling restored hardware. Granted, they don't have variety of Restoration Hardware (NYSE:RH) stores. But it's just a matter of time.

    Another problem: one of the reasons I bought the stock in the first place was the fact that CEO was Italian. Well, that CEO is gone.

    I am not sure I want to close the whole position. I might as well be wrong. I am thinking about it.

    Disclosure: I am long RH.

    Additional disclosure: Positions can change any time.

    Themes: Retail Stocks: RH
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