I read once that Warren Buffet likes to encourage companies he has invested in that are fundamentally undervalued and are in a strong cash position to buy back their shares. Ultimately when the true value is appreciated by the market his investment return is greatly enhanced.
CFE seems to meet all these criteria and I feel it is an excellent move.
Buybacks don't tend to work as well when a company is close to full value or priced near the top of the cycle for their particular business activity.
Have a few of these in my super and am confident that when the asset values are realized the buy back will help magnify our returns.
Keep up the great work on this thread guys. Probably won't post often but your analysis is greatly appreciated.
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