Hi Big E,
Another reason I don’t agree with the treasurer on this one is that a BB is no different to bond purchases or QE type stimulus. You’re putting money into the hands of someone who can plough it back into the economy ie retail or whatever. In fact you are doing it now as opposed to a div payout which happens twice per year and money into economy now is more valuable than money into economy tomorrow. Sorry, I say another reason as I just thought of this now and didn’t include this in an article I wrote on this on a website tied into my signature link.
FMG still did well to buy 1% of capital at average of $4 but they (or Macquarie) dropped the ball a bit in the weeks leading up to the disaster. As soon as FMG got to about $4.15, it stopped when it was looking so damn cheap at that time. Discounts had been tightening for a couple of months before the disaster so there was a big opportunity lost to eat up another 1-2% of share capital using petty cash.
Anyway, the BB is still there just in case by st the moment it looks like it is going through a carefully orchestrated fundamental revaluation. Onwards and upwards
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Last
$17.97 |
Change
0.710(4.11%) |
Mkt cap ! $55.32B |
Open | High | Low | Value | Volume |
$17.30 | $18.03 | $17.13 | $198.6M | 11.21M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 31540 | $17.95 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$17.98 | 24196 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 31540 | 17.950 |
1 | 34 | 17.940 |
2 | 200 | 17.920 |
1 | 100 | 17.910 |
3 | 3734 | 17.900 |
Price($) | Vol. | No. |
---|---|---|
17.980 | 24196 | 6 |
17.990 | 200 | 1 |
18.000 | 1934 | 6 |
18.010 | 200 | 1 |
18.020 | 2743 | 2 |
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