Seeking Alpha
  • Ocean Man
    I was expecting the NAV on $ACAS to rise from $17.39 to about $17.59, maybe $17.65. Rose to $17.84 and beat earnings. $13.xx is a steal.
    2/11/13
    Reply (8)
    • Chris DeMuth Jr.: Yes it is.
      2/11/13
    • Ocean Man: One of the best buyback programs in the market, just keeps pushing up the NAV. Buying back 2-3% of the float each quarter.
      2/11/13
    • Chris DeMuth Jr.: What a great use of their cash. Buying back float at a discount to NAV is as close to a perpetual motion machine as it gets in the markets.
      2/11/13
    • neobliviscar: Yes and yes. When OM first shared this one, I looked into it. The more I dug, the more I had a 1970s Warren Buffett smile.
      2/11/13
    • KilgoreTrout: Looks like they're issuing 18M new shares.
      2/12/13
    • Ocean Man: Where did you see that? Link?
      2/12/13
    • neobliviscar: Second that. Link?
      2/12/13
    • KilgoreTrout: My bad, showed up in a newsfeed for ACAS but was for American Capital Mortgage Ltd (MTGE). sorry for the scare...
      2/12/13