I doubt they will get rid of the whole 11 million shares. They want to reducce, not eliminate their entire holding. XIN will continue to buy shares back. We will see a lot of pressure into end of year, but I don't think it will continue into 2013.
Blue Ridge will stop selling, XIN will increase their dividend to .05 a quarter, their cash per share, and book value per share will continue to rise, increasing buying pressure to off set any additional shares Blue Ridge may still be selling as of January 1st.
Savvy, you turned into one of those....what do you call them??? That's right, your special name that
never made sense....basher long. Did Blueridge confide in you that they are selling their 11m balance
of shares. I know how special you are, so they probably did.
basher long, basher long, savvy is a basher long. Maybe Wal could write you a poem on your
'insinuations'. He is very big on 'insinuations'....he see's them everywhere.
I am not a basher bull. Basher bulls are those who bash a stock with misleading info to serve themself. In many cases, they want to buy the stock (normally they just sold a few minutes/days ago). In other cases, they can't withstand to see the stock raises without them for varies reasons, such as they are ex-shareholders (especially losers), ex-employees, they work for the company competitors, or they are a market maker but on the wrong side of the trade (i.e., short side).
I belong to none of those groups. I just state the fact that as long as Blue Ridge keep selling its shares, XIN will have more supply than demand. Since XIN is buying itself, so it is a good thing for XIN to have Blue Ridge feed XIN's buy back program. I have communication with XIN and they realize the selling pressure generated by Blue Ridge. I don't get any impression that they will do something special to address that selling pressure except contionue their buy back program which is designed to buy XIN as long as XIN is trading below book value with or without Blue Ridge selling its shares.
For the benefit of their own, all short term investors/traders should stay away from XIN on the long side as long as Blue Ridge is selling. Otherwise, they will feel nothing but pain (as expressed by their messages here). However, long term investors who plan to hold XIN for its fair value $20 will feel joy as they see XIN now can buy back shares at super discount price.
BTW, this message board is becomming a much better place without all those noises from short term traders, especially basher bulls.