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I Bought Some GLW Yesterday @ $11.15

It's unusual for me to go "big cap" but the stock is now *so* cheap and has so much great IP. The company is on a $1.20/share EPS run-rate which looks close to "trough" earnings to me, as here are the figures for the last five years:

2011: $1.77

2010: $2.25

2009: $1.28

2008: $3.32

2007: $1.34

The company also has approximately $1.50/share in net cash after accounting for the repatriation tax burden. So if you deduct $1.50 from $11.15 you get a net cost of $9.65/share, which is only 8x run-rate earnings and again, those earnings seem close to "trough."

Disclosure: I am long GLW.