"That discount may never 'recover' and can very well deepen. If the gap doesn't close then that bundle is worth what what market says."
I have started to buy into ARG on the grounds that past history tells me they do a good job in their own boring way and now I can get that dividend at a largish discount. If the discount increases my dividend will still have my discount attached. AND, if they start a buyback programme, holders will benefit regardless of what the market values ARG at. Yes, the value is what the market says it is but I see it as more valuable to me.
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