"Paying substantially more for something that it's worth, should never be termed a bargain."
Do you have some unusual definition of 'worth'?
A pretty good definition of 'present value' is "the discounted (at some acceptable interest rate) value of all future income" and WMI is currently paying a dividend of roughly 7%, which grosses to roughly 10% with imputation credits. WMI also has a very solid dividend reserve. Further, it has been doing this for some time now.
WMI Price at posting:
$1.47 Sentiment: Hold Disclosure: Held
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