Really, really, really good news today which, in part, says:
<< Arthur Andersen reported that its investigation was virtually complete. Deloitte & Touche LLP also reported on the status of its audit and indicated that it was substantially complete. Their conclusions were consistent with the Company's July 14 $0.22 to $0.28 per share estimate of the aggregate restatement of net income before one-time and extraordinary items required to correct 1997 accounting irregularities and accounting errors. >>
Now, some wanted to wait until things did not seem so risky. Now, IMO, things don't seem so risky, but you would now pay about $ 2.00 per share more, just as I estimated, to buy CD (now about $ 17.25a).
You now will pay a higher price for less risky, thereby taking a good amount of the advantage one thought he would have gained by waiting.
Of course, one could wait for the final audit report to be released before buying, but then what would be pay? How much might it gap up on that news?
CD: $ 17.25a
VALUESPEC
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