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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: DaveMG who wrote (204678)11/14/2002 2:00:41 PM
From: reaper  Read Replies (2) of 436258
 
i would ask this question in a different manner. ask not what HSBC sees.

instead, see that...

(i) HI stock before a couple of weeks ago had not traded under $30 per share in 6 years
(ii) HI 'earned' $4.00 last year and projections were to 'earn' $4.50 this year and next
(iii) management and directors own 6mm shares
(iv) their are four 5%-plus shareholders (CapRe, Fido, AXA, Davis) who all aquired their stakes at prices well in excess of $30 per share

and ask, what does HI management see that they are willing to SELL the business for less than $30?

Cheers
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