Good things to come... In another portion of the excerpt posted below, Mr. MacDonald mentions that legendary investor Warren Buffett said that share buybacks make sense when a company can buy its own shares below their intrinsic value. One rule of thumb that he often followed was to repurchase stock in his own company when the price fell below 1.1 times book value.
Note that Dundee Corp has purchased 15% of its shares at a price-to-book value of 0.4. This is one of the criterai that indicates that Dundee is considerably undervalued.
Looking at the L-2-Q, it appears that DC.A is finally garnering some interest. SP is presently up 4%... maybe this is the start of good things to come.
| Last: | 1.53 | | Change: | 0.06  | | Volume: | 58,316 | | Last Trade: | 10:35 |
Level ll Quote | Bid | Ask | | Price | Total Size | # of Orders | Price | Total Size | # of Orders | | $1.52 | 800 | 2 | $1.53 | 1000 | 1 | | $1.51 | 2100 | 2 | $1.54 | 2600 | 4 | | $1.50 | 6700 | 3 | $1.55 | 8000 | 3 | | $1.49 | 1000 | 1 | $1.56 | 5000 | 1 | | $1.48 | 7000 | 2 | $1.58 | 3000 | 2 | | $1.47 | 14200 | 3 | $1.60 | 2100 | 2 | | $1.45 | 1000 | 1 | $1.61 | 100 | 1 | | $1.44 | 6500 | 1 | $1.67 | 9000 | 1 | | $1.43 | 3800 | 1 | $1.69 | 2800 | 1 | | $1.42 | 1100 | 2 | $1.74 | 200 | 1 | |