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

To: E_K_S who wrote (43867)	8/11/2011 1:44:27 PM
From: Mr.Gogo	Respond to of 78748

EKS, You are right, they have payed about 2 billion of debt in the last 4 years, but my point is about book value. Book value per share will increase if you sell more shares at a price above book value and pay debt. But if you use your cash to pay debt book value will not increase. In fact their book value has increased from minus 3 B to minus 1.8 B. This is if you deduct the good will and intangible assets, If you don't deduct good will and intangibles, the book value has decreased from about 5.9 B to 1.3B. To your last point I agree with you. The chances are much higher that it will be 50% more expensive than less expensive, but you never know :) Georgi