Aaron Rents [AAN] Is An Auld Lang Syne Holding

Yesterday I accomplished two things. That's big in retirement world! First, I bought more shares of Aaron Rents [AAN] as the market was marking them down by 7 percent and, second, the wife and I attended the annual Burns Supper.

Burns Suppers, held world-wide to commemorate the birth of Scottish poet Robert Burns are full of poetry, kilts, bagpipers, and scotch malt liquor. I appreciate all of the foregoing. There are also lots of Scots speaking with thick brogues. I missed a lot of the presentation because I couldn't catch the cadence of the brogue. Earlier in the day I believe the market was having a Scottish moment as well, because I couldn't understand why they were throwing out a solid company like Aarons.

I've written about Aaron's before, lastly in 2009, so I won't delve into any numbers today as they've continued to perform well. Last quarter was solid and future guidance acceptable. The company uses debt sparingly and sells for a modest 12 X forward earnings. In a past life I owned 25 furniture rental stores, understand the accounting, and feel confident that a growing number of customers like the rental experience. So, the sell off presented an opportunity to add to my position.

I didn't understand the market's behavior Friday anymore than I understood the Burns revelers last evening. But Robbie Burns, that cool dude in the sunglasses, would understand my toasting auld lang syne to my long-time, old friend Aaron Rents as the market presented me with a New Year's opportunity to buy some more shares at a discount.