RE:Urbana renews NCIBI appreciate your opinion. And I agree that they should make use of the NCIB eventually, just not right now.
I am still in the phase of acquiring Urbana shares in my retirement account. In about 2-3 years that position will have attained the portfolio weight that I'm comfortable with in the long run. And then I intend to hold it for about 25 years, i.e. until I retire.
Hence I need the discount to stay in place for a little longer. And then I will have ALL the patience in the world for Tom - and later his son - to buy back shares.
Until then they should focus on what you wrote they do best - be darn good stock pickers.