Viking,
I haven't had a chance to look at your calculations, and probably won't, as I'll be traveling for two weeks.
But your post did trigger the discussion that the weighted average share calculation regards retired shares as deducted from the overall count as of the first of the year, even if deducted the last of the year. Not too intuitive to me.
But that does refute some of my post about dilution being over this year, and so I take your numbers as right.
Points remain that any remaining 2012 share issuance is not necessarily dilutive to earnings, and that 2013 capital development will have positive impact, as will any more share issuance, if they can uplist/dual list first.
Not much fun to see the relentless hammering daily, regardless.
As Chad says, fundamentals almost always win out in the end.
Chad, when does the end start?
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