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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (24724)	8/26/2006 3:05:19 PM
From: Carl Worth	Read Replies (2) \| Respond to of 78752

i mentioned a while back on the thread that i had bought some WNMLA at 4.20...no one seemed to care, and i certainly don't blame them, as the stock often languishes for months or years, but i think it has the potential for a nice payoff, so i bought more recently at 3.76 with the BXL position, the cash as you mentioned, and positive earnings more often than not, the stock should be worth 6 bucks or more...perhaps the buyback will help it eventually achieve that level, though i think they would better serve the interests of whatever few investors still remain by instituting a dividend in any event, it's less than 1% of my portfolio, and i probably won't add unless they do institute a dividend, or give us some indication that they indeed are going to become more proactive in making the stock more attractive to potential investors

To: Paul Senior who wrote (24724)	4/11/2007 10:18:54 PM
From: Paul Senior	Respond to of 78752

I'll up my position in very thinly-traded WNMLA. The stock's moved up to maybe $4.6/sh. from the $3.76 where there were some buyers on the thread. Stock still looks undervalued to me based on my sum-of-parts analysis. Having some trouble deciphering BXL, of which WNMLA owns 25%. The only assets in BXL seem to me to be $22.3M in net income ---cash. The total assets reported are: "At December 31, 2006, we had positive working capital of $37,739,552, total assets of $38,071,710, no long-term debt, and shareholders' equity of $37,864,881." There's no business at BXL --it's a cash-in-search-of-a-business play, so I am guessing in the equity of $37.739M there's lots of tax dollars due to the gov't maybe April 16 from BXL's sale of the on-going business. Anyway, I'm calculating WNMLA's share of this business as 25% of $22.3M cash, which, given WNMLA's 1.54M sh. outstanding, is $3.62/sh. And then there are the other WNMLA investments. biz.yahoo.com