RE: RE: book value > market value = buyback well, he wants to diversify. if the company goes belly up for some unexpected reason, he doesn't want to be wiped out. it's a standard technique to protect one's wealth... can't blame him. he could've figured it was a 'strong buy' at $10/share before the latest shakeout and he would've lost 25% in a matter of days.
on the other hand, he could use a core+satellite approach and set aside a small portion of his portfolio to buy shares and, if nothing else, give others the impression he believed what he said. see that's what i don't get, he says something yet his actions don't back any of it up. he's not credible. simply saying "the share price is too low... something needs to done about it" is great for a 30-second sound bite, but all words and no substantive action lose the patience and confidence of investors and they'll simply sell and move on. it's an issue because down the road the company may need to issue equity for some reason and the weaker the share price is, the more dilutive that action is. another person mentioned that a strong share price also wards off an opportunistic take-over bid at a low valuation.
so if i was in stephen's position i'd do all i could to get that share price up again. at this point, it should be priority #1.