obelix, I recently finished reading value.able by R Montgomery. Its a great book and very practicle.
when a company buys back shares, if they are bought back at a discount to instrinsic value, then the company is increasing its value, but when bought at a premium to instrinsic values it destroys wealth.
ZGL sp is at a large discount to i.v. in my opinion, and so the buy back will increase value.
Hence I am still acummulating shares.
It may take a while for the rerating the company deserves, but I think it will happen within this year.
I am impressed with the cost reductions in the less performing areas of the business, but I would rather see them sell these divisions, and focus on the stronger ones.
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No. | Vol. | Price($) |
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1 | 67365 | 6.6¢ |
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Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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1 | 70000 | 0.065 |
1 | 16683 | 0.060 |
1 | 15000 | 0.051 |
1 | 20019 | 0.050 |
Price($) | Vol. | No. |
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0.087 | 85000 | 1 |
0.088 | 30000 | 1 |
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