a well managed, conservatively run company with sound financials that doesn't earn squat. If great cash flow and a sound balance sheet translated to a rising stock price I would be thrilled, but it doesn't.
Wow is that a complete misconception of what warren did. He has a perpetual 10% preferred dividend on GE. It has a convertible option at $22.50, and I imagine warren doesn't care much what the stock price does in the near term. He gets paid 10% and assuming it recovers in the future he can convert if it ever goes enough above $22.50 to entice him outta that 10% return.
and yet the pre market bid is fine. I suppose if they keep the divy and we get about 6 to 10% yield over the year while we wait out the macro stuff... Seems like a reasonably safe play for the conservative part of ones portfolio.