That's a great analogy. CNNE is an interesting one in that context - it's kind of a paper case, but one good thing is that management after Q3 basically said "this valuation is dumb, we're not likely to spend our cash on anything but our own shares, because we're not getting better returns elsewhere."
That's a great analogy. CNNE is an interesting one in that context - it's kind of a paper case, but one good thing is that management after Q3 basically said "this valuation is dumb, we're not likely to spend our cash on anything but our own shares, because we're not getting better returns elsewhere."
Of course, they have to stick to that, and one big concern is that they're not necessarily incentivized to do so.
That's a great analogy. CNNE is an interesting one in that context - it's kind of a paper case, but one good thing is that management after Q3 basically said "this valuation is dumb, we're not likely to spend our cash on anything but our own shares, because we're not getting better returns elsewhere."
Of course, they have to stick to that, and one big concern is that they're not necessarily incentivized to do so.