RE:RE:RE:AAB Shareholder activism - sharing ideas
Stan: buying back to dome shareholder meeting agrees upon ceiling of 5-20%:of outstanding shares ( as is typical in these arrangements) is fine. A great idea in principle. I think where you perhaps got loiitle over enthusiastic +.optimistic and lost me, plus more importantly Stan's crew was where u suggested the buyback price b NBV or something close to it. While I'd love for that to happen and would strongly support such a proposal ( because I'd b first in line to sell at .45+ the day after it was approved ) ... the fact of the matter is that is just not how those buy backs work. They are typically offered at market prices or with a small premium. Not 2-2.5x current market. While your and dtrader's ideas for building a stronger AAB with a steady income component are great .... seems like a lot of work to me. Work the ownership / management team should b doing. That's what they get mgmt fees for. When I invest in a co long term .... I'm doing so because i have faith the mgmt team is focused on the right things to grow the company. Largely so that i won't. They are in turn richly rewarded for that guidance and effort to a much larger extent than me, the lazy investor. Rightly so. I invest specifically so that i don't have to get involved in those decisions and the day 2 day running of the business. If i do ... something has gone very wrong. To me the idea you had of forcing a sale of all assets and resulting fistribution of the proceeds to shareholders .... now , while the assets are valued at Sig more than stock is the most realistic and intriguing possibility.