Market Price and Intrinsic Value are two seperate items. You seem to just be looking at the Market Price, and calling anything higher than that a "good deal". Investor greats would have to disagree with you (not coming from me).
Stocks have been bashed in the past to no end, all whilst their profits, revenues, cash flows were all growing (and hence their Intrinsic Value also growing). The reasons for Market Price and Intrinsic Value never being married up are many. It could be that a large investment house needs to liquidate funds to provide for redemptions. It could be a whole lot of inverstors not understanding the intrinsic value of the busines and hence selling off. Someone might need to buy a house, a business? Humm is also out of the ASX300 - larger investment firms who follow this index have had to sell off Humm. Of course, it could also be price manipulation. As you can see, all these factors have nothing to do with the intrinsic value of a business. Peter Lynch has spoken of times when he has assessed the intrinsic value of a business to be well north of the current market price for a particular stock, so purchased said stock, only to see the market price plunge by over 60% after his initial purchase!!. He will never know the reason why it got sold off so hard (again, it can be many a reason, but this is actullay irelevant), but Peter bought more of that stock. The end result was that stock re-rated to several multiples of his initial buy after the market returned a fair value for the stock. If he have had your mentality, he would have sold out at the low, or not bought in the first place, both resulting in either a loss or a non-profit. Peter Lynch became the most successful mutual fund manager by finding and buying stocks selling well below their intrinsic value.
One must learn that Market Price and Intrinsic Value are two different things. Once you understand that, then you can make huge bucks, and also save huge bucks. The most money can be made when Intrinsic Value is high, and when Market Price is low. And this is why you should not have the belief you seem to have, which appears to be simply taking a price higher than Market Price, simply because it is higher.... You need to look at the Intrinsic Value of the business, and then compare that to the Market Price.
So don't give me that crap that you will take $1.00 because it is higher than $0.845.
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