I agree, all financial ratio's should only used in arrears but...

I agree, all financial ratio's should only used in arrears but what has crept out of the US over the years with the accounting standards changing, IFRS and GAAP is that many people think using the same ratio's on pro-forma accounts is useful, it isn't, it's risky as it doesn't take into consideration non-financial matters and for BAL that is critical.

For me it isn't a buy at all as there is too much noise around, too much fluidity and way too much instability in the business but having said that a Hedge Fund has sneeked in and taken a position and that appears to have shored up the price decline. The problem is unless one is familiar with hedge funds and how and why they invest following them into a stock is just blind stupidity and it is far better to wait until some clarity occurs.

The half year results might give some insights.

My previous post should have said $3.86 not $38.6...typo.