RE: RE: RE: RE: RE: The misleading NAV>>The stock is
tradingvirtually where it was before the crash.
The last two years AAB hassimply restored the loses during the crash.
Which is different from???? On that metric, look at Pinetree, which was trading as high as $15 a share in 2007.
On June 16/08, Aberdeenannounced its results for the quarter ending April 30/08. NAVwas estimated at $110 million or $1.08 per share, so just to put things in perspective, AAB mgmt has done more than simply restore the losses during the crash.
I don't know a current NAV for PNP, but their net asset value per share decreased to $3.72 as at March 31, 2008. I would hazard to guess that in terms of % return, AAB's mgmt has far surpassed PNP's mgmt even though the share price performance has not. Maybe PNP spends more time managing their stock price and less on their portfolio - who knows. Some might say that when underlying fundamentals outpace share price, that a deriliction of IR duties has occurred, I prefer to view it as an opportunity created. If the fundamentals never improved faster than the share price, how would folks make out-sized profits in any market?