Retained EarningsI agree with a previous poster that the market is a leading indicator and without growth you theoretically should have a declining share price in perfect market conditions.
However... in RIM's case there is unbelievable value - $8 BILLION in Retained Earnings Alone! Divide that by 524MM shares outstanding and you have $15+ dollars.
I guess the only thing that RIM shareholders can hope for is for some new blood at the C-Suite level and to unlock this unreal value... break-up the company already!
I'm not a fan of these Nortel comparisons. Nortel had rampant fraud, cooked books, executives paying themselves fortunes, and we're highly leveraged. RIMM is not any of those things - just poor management.
I hope there is a turnaround in the cards for 2012. What a shame to happen to a great Canadian company.
Bull G