Sushi,
Just like everyone else around you seem to focus on the negative aspects of village shares and forget to mention the positives. In this way you are following the herd which is the most common error that an investor can make, but unfortunately one that most people do make. I am amazed at the strength of the herd - I have liked VRLPA for a while now and I talk to people about it quite a bit and everyone always says the same things - 'the kirbys are causing the share price to go down, don't trust them' and then if I say what about the fact that the PE on the prefs is about 4 and it looks like profits are going to at least be the same as in previous year people just don't understand or care - it is much easier just to accept what the herd says.
I'll briefly mention some positives about village:
1. The PE ratio of Village prefs is about 4 which if you ask anyone means 'ultra good value' - off the top of my head this is probably the best P/E ratio of any stock on the market.
2. The PE ratio of Village normal shares is about 8 which is 'great value'
3. Profit should be the same if not higher than last year (normally you would expect a stock with such a low PE to have declining profits and be in a declining industry)
4. This year all cinemas are recording record attendances due to good films.
5. Same goes for video and dvd distribution
6. This looks set to continue for at least another year with more harry's, lord of rings, matrix 2 and 3.
If I have not doubled by $$ on village prefs by the end of 2004 I will be amazed.
Ed
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