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

To: MCsweet who wrote (35444)	9/25/2009 2:17:00 PM
From: Rawnoc	Read Replies (2) \| Respond to of 78748

The reason why I particularly think it's a "no brainer" is because the size of the buyback left is bigger than the market cap. If you have 3 widgets for sale and somebody has approval to buy 5 widgets from you at a higher price than you have them advertised for sale, it's a no brainer that you'll be able to sell your widgets for a profit I think. :) But there's always risk that they'll cancel the buyback, and my definiton of no-brainer just means that the potential greatly outweighs the risk. As to your comments, I'd have to disagree... 1) The intangible book value = licenses with very real value that can be sold. There is virtually zero chance of "writing it off" in its entirety -- this is different than "normal" Goodwill. However, I guess there's some risk of SOME reduction in value of the radio licenses and some relatively minor writeoff vs. the value of the licenses carried on the books. 2) ROIAK appears to be the most healthy and best positioned public radio play that I can find. I don't think bankruptcy risk is realistic, especially considering how profitable they've become and how much credit/liquidity they have available to them without material debt payments due any time soon. 3) The only thing about the SEC was routine correction on comments made in SEC filings that need to be fixed. Nothing to do with the financials so it's just paperwork.