corporate strategy

It is worth looking at the history of BAU to understand UMC better. Earlier this year a Chinese partner took a placement at 50 cents & needed FIRB approval, while BAU were trading for about 30 cents. Well after all the paperwork & FIRB approval, the share price of BAU eventually moved to just above 50 cents, now only a month later the shares are selling around the $1 level & every BAU shareholder including myself is very happy. Once you understand the new Chinese partner is not being ripped off by UMC having to pay $1.35 per share, you will soon figure out the current sharemarket doesn't really reflect UMC true worth. As an Australian I hate to say it, but we are not an overly clever group of people if we can't figure this out. May be another 500 years of trading with the Chinese we may become the clever country of the south if there is still anything left to trade. Perhaps a good educational exercise for kids at school would be for school kids to be allow trade marbles,swap cards etc in the school yard & teach our kids how to trade successfully. Better to be ripped off for a few swap cards etc & learn what trading is all about.
Good Luck to all
Buffett