The completed buyback will surely add to the earnings per share when dividends are paid but it doesn't seem to have helped the SP at all.
The SP now looks cheap in comparison to recent years but I don't understand why OZL has suffered so much. Copper seems to be holding above $3.30/lb and gold above $1500 yet we slide down the slope in SP. Is it fear of impending commodity price collapse / global recession driving this - and if so why OZL more than others??
No more buybacks for now I think - spend 100M on buying some more SFR at $6 if it gets down that far or continue looking at other opportunities or even capital return to shareholders!
OZL Price at posting:
$7.69 Sentiment: Buy Disclosure: Held
