Resource America (REXI) Message Board

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Strategies & Market Trends : Resource America (REXI)

REXI 9.780

0.0%

Sep 9 5:00 PM EST

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To: okey who wrote (100)	9/9/1998 5:23:00 PM
From: PaperProphet	Read Replies (1) of 220

First of all, an accounting review, even if the SEC were to do one and would find anything (which is pretty doubtful), probably won't sink the company. They won't get shut down. The would pay a fine, change their accounting, and continue. Wrongdoing on a company's part isn't a one way ticket to oblivion. Now, on a second note, suppose for a minute the company decided to buy back $50M of their 12% unsecured notes (which last I heard were trading at a discount so that they earn 17%) instead of buying stock. Do the math - that would be $0.43 per share per year in REAL money (for those who believe the paper profits are worthless) and that alone would give them a P/E of 19 at $8 a share.

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