how safe is vpg, page-9

I suppose it depends on short term downside, long term (fundemental) downside.

Short term, always hard to pick, but the chart shows a reversal, so we may never be below 6c again.

Long term I see very little downside. It is amazing this has been sold off so hard.... IMHO. The directors were chomping at the bit to reopen the trading window to spend over $500K at a 10c buy.

Director buying is always a good sign (as they would know best IMHO).

With a NTA of 95c and NAV of $1.30, this is priced to go into VA... but with 33% gearing, this is never going to happen.

One of the true amazing bargins this market has thrown my way IMHO.

I said the same about BBI under 4c all the way to 2.5c. (It is now over 11c, and still a bargin, and already a 4 bagger for some).

Think of it like this. At 6c, less than $100M market cap. $100M buys you 67% of $3.7B in assets and over $10 Billion in assets under management. Even if there was at 50% write off of assets in a fire sale (which would never happen becasue cap rates would have to be 15% plus), it would still be cheap.