Cheap sharesI love the sayings of John Templeton and use his logic often. He often said the best time to buy a stock is before you see the light at the end of the tunnel. Or Peter Lynch who would state it is often the darkest before it goes pitch black. If you are looking for good news and a cheap stock this is not possible as bad news is why a stock is so cheap. At a book value of close to $31 this is as cheap as I have ever seen Melcor shares and I started following them over 30 years ago when they were 50 cents on the dollar.