way below fair value
Yesterday Pinetree lost around 70mln in Mkt Cap while the listed shares it holds declined 30mln. So far today Pinetree lost another 41mln in Mkt Cap while its listed shares lost 49mln. In the last 2 days alone the decrease in share price was overdone by 30mln.
The tremendous desaster in Japan will have some implications for the future but the impact on the global economy will just be a minor setback as it will be for Pinetree.
Current NAV is around 4.15 - if you are happy to sell a 40% undervalued stock go ahead, the smart thing is to pick up more shares while this situation prevails.