A Contrarian Buy, page-45

Sorry mate but big No's for all your post here - I suggest DYOR next time

"So basically, according to irrelevant multiples this stock is undervalued": No...as above....that's merely one factor....

"You do realise sales (and margins) are falling while national retail sales are increasing?": Again No...not sure what you're reading mate but sales have been more or less steady for 6 years.....sure margins have tightened, not surprising given a weak retail environment as I mentioned....

"Buffet and Graham invested in undervalued businesses in growth industries": Again no...not always. Buffett had also whats termed 'special situations investments'...brief definition below.

"Special situation in finance is an event turning business to go not as usual and materially impacting a company's value. The notion covers restructuring of a company and corporate transactions such as spin-offs, share repurchases, security issuance/repurchase, asset sales, or other catalyst-oriented situations."

MYR falls into this category as we may see a turn in retail sales (catalyst) or Solomon Lew restructure the business after taking control of it.