I agree with you about those tech companies. Some are below cash, and some have made good moves already.
I sit in awe of people who have made big bets on any one of these companies based on cash value and an expectation that something positive eventually will happen to the particular company. As you say about CPST, in business for years and has never showed a profit. There are a lot like that.
This guy, Willard, has the right idea though, imo - build a basket. At first glance, I like COMS in his list: I'm a little familiar with it, it's big, and it's got tons of cash even though there are lots of shares out. It's been profitable in past years (assuming one believes the numbers and management's integrity then).
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For a high-ROE & fallen angel, would you go for PFE?
I'm not sure it's fallen enough. ROE is high all right, but book value to price is very low, about $4 (bv) to $32 (sh. price). I've started to build a small position again, and I bought a little today.
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