I'm in favour of a buyback if implemented at current cheap prices but the last buyback was a bit ridiculous....they were buying back shares at a higher price before they subsequently raised fresh capital at a lower price.
The good old "buy high, sell low" investment strategy.
So basically I am in favour of capital management initiatives if the long-term value of the company is not diminished in any way.
Otherwise, I would prefer to simply wait which I believe is what Warren Buffett would do if he were an investor in AMU.
Lets not forget....the market has been caned recently so in comparative terms AMU has not done atrociously. I've also seen posts on HC suggesting that AMU is held in the Opes Prime broking problems which could explain some recent weakness if they are flogging shares at whatever price they can get.
Finally, ARW really broke the sentiment on the stock but once that is flushed through it should provide a base for recovery.
If there is truly value there, the market will eventually recognise it.
AMU Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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