bh1, page-63

Vin, GSW, Harv...thanks for the replies

GSW, of course you are right when you say there is no point in buying a stock at fair value

Call me cynical or jaded in this market but my definition of a stock which is intrinsically undervalued is one, say, which trades at 1c per share and has a cash backing of 5c per share

I hold SBN because I hope its obvious potential translates into sales but it would be a stretch for me to call it intrinsically undervalued

Anyway, your points are taken