Relax a bit, SBM is in a good position, cash greater than market cap esp after a 25% SP swipe in 2 days. People are talking about a credit crisis making people worried, SBM has more cash than market cap putting it in a unique position to weather that. I didn't think the rise in the SP over the past month was because of investors believing the next qtr announcement would show promise, if they were then insane if they believed that, I have always been expecting rubbish from them, the play is not hoping management is going turn things around, it's buying into their distressed assets regardless of management with the expectation they will sell them or be taken over/merged to more competent management. I wouldn't worry about management burning through cash, how fast can they spend $200M on themselves? problems stemming from that I would say is a year or two away if things don't change then worry, but it's not now.
SBM Price at posting:
18.0¢ Sentiment: Hold Disclosure: Held
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