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To: Kirk © who wrote (66629)11/29/2004 7:30:10 AM
From: Dave  Respond to of 77400
 
VLNC is a tiny company where you can have a declining BV and still be happy.


first a declining book value per share is bad -- now it's good? Which one is it?

It makes a great deal of money yet none of it is returned to the shareholders

They bought back stock -- under modern finance theory that is money returned to shareholders.