RE:RE:RE:PvE gets kicked out?Thanks Sherbrooke1, I really appreciate your response. As I said, I'm in two minds and so the background on Kingsway is very useful.
Buybacks or cash returns should get you upside of around 30%. Not bad at all for zero risk. But I invested in Kobex not only because $1 investment equals $1.3 of value, but also becuase I hoped the $1.3 of value would ultimately get invested in a hugely depressed resources market that could give me a lot more upside. Will that happen under Paul van Eeden, I don't know, but he knows a lot about the industry and value investing. Will I get that extra upside from Kingsway, that is the key question for me.
A final point, the fact that the natural resources market has been continuing to languish could be viewed as vindication of the Kobex approach of holding back on making investments. Maybe they have been waiting for the bottom to really be reached before pulling the trigger. Patience can be a virtue, and I worry from the Kingsway statement that they may be a bit too trigger happy in an attempt to prove to shareholders that they are doing something.
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