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

To: Brendan W who wrote (4686)	8/17/1998 8:18:00 PM
From: peter michaelson	Respond to of 78628

OUCH... COLOR ME RED (as in embarrassed). You are right!

To: Brendan W who wrote (4686)	8/17/1998 10:00:00 PM
From: jeffbas	Respond to of 78628

Brendon, dividends to shareholders are not a return of capital, but a return on capital, and taxed as such to the recipient.

To: Brendan W who wrote (4686)	8/20/1998 12:45:00 PM
From: Brendan W	Respond to of 78628

Homebase (HBI) hit a 52 wk low yesterday. It's trading ($7) below book value with a PE under 10 and PSR under .2. It's book is mostly inventory unfortunately. Its "diluted" shares are 10 million greater than its "basic" ... 48 v. 38m. As far as I know there are only a couple million options outstanding. There is convertible debt that converts at $10+. The just reported quarter 32c looks a whole lot better based on basic shares (39c). My question: is the out-of-the-money convertible debt being counted in their diluted shares?