value or value trap, page-7

Good luck, Rona. I have resisted the temptation so far. I wonder if the insto and index sellers are done just yet ?

If they can stabilize earnings and reduce debt, this could end up looking very cheap, but that's not a given at all. In fact, earnings have been on the slide now for a long time. In hindsight, the shares have been artificially propped up by an unduly generous dividend pay out ratio, and, more recently, bid talks.

Both those props are now off the table. They can't keep increasing borrowings to pay the dividend (and they don't need to now the instos are bailing ). As for a takeover, well, presumably that is one of the "distractions" the new CEO has said they can do without.

So no rush, in my opinion.