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redman_2014

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redman_2014

Re: None

Tuesday, 04/13/2010 9:06:54 PM

Tuesday, April 13, 2010 9:06:54 PM

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Trailing PE of 5 takes us to $13.00.

At present price of $8.05:
PE of 2.74 using 8.9M shares(EPS of $2.94).
PE of 3.11 using fully diluted 10.1M shares(EPS of $2.59).

I think people are focusing too much on the supposed housing bubble and missing out on the fact that all of that negative news is fully baked in already. A PE of 3 is ridiculous. The company has been around for 17 years so it's not like they are a flash in the pan. They could have flat earnings in 2010 and still be dirt cheap.

A $13 stock price gives the warrants an intrinsic value of $5.50, or a 280% potential gain from todays price of $1.45.

I just might have to buy more if things keep going like this.


-Adam


"Impatience is the companion of the doubting mind" Unknown

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