whats its value, page-12

slimjim

Agreed ... Kipp selling was not a good look. And it is entirely possible that in the positive market of April 2007 the BLY sale to PE groups may have been on the high side. But this was always a very profitable company before it floated and the float reduced debt to a relatively low level for this type of company. The fact that its debt is seen as a problem is a function of the times we are in .. not necessarily something fishy about the company and its business. So ... it may have been too high at $2.00 and it may have to cut costs and deal with falling revenues ... but the market was factoring in a breach of a debt coveneant and/or the company going broke .. both of which are unlikley. If commmodities and resource stocks recover at all then BLY looks goog IMHO. The selloff was overdone on FEAR and the more reasonable assessment has our big funds (all value investors) like MBA, IOOF and CBA (Colonial FS) buying!

I hope I am not wrong but this is what my research says .... do your own everyone!

H