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Buybacks below BV


marazul
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Hi,

 

As you know, buybacks below BV generally increase IV per share. Some companies have managed to take advantage of Mr. Market´s behavior by buying back a significant amount of shares below tangible book value. I think it would be nice if we come up with a list of these names.

 

-Some of the TBTF banks (i.e. C, BAC, GS) have bought back some stock but they haven´t been as effective because of limits by regulators.

-KCG has been buying back stock below TBV of ~$15 AND this is without taking into account the FV of its ownership (17%) in BATS which IPOd today.

 

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