RE:Detailed Scenario Analysis on SIB Price RangeFascinating analysis and I hope you are correct. I've just picked up another few hundred shares to see if a quick buck can be made.
What I don't understand is why anyone would tender their shares for well below book value, when they know that book value per share is going to go up after they sell, in part because they sold the shares for less than they were intrinsically worth. What am I missing?