these aquisitions on face value achieve reasonable returns on equity invested. For example ARN shares were acquired at $1.10 with forward estimates of earnings per share of around 8-9c per share its around the 8% level of return. I can’t comment on what the shares are worth without this investment but it will be less. Not saying less than the market price as that is not necessarily rational. Share prices vary widely from. Their underlying value depending on fear and greed and optimism and pessimism. I think SWM is on the pessimistic side of the ledger
SWM Price at posting:
16.0¢ Sentiment: None Disclosure: Held
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