Cash in the bank doesn't really come into the equation when it has all been earmarked to be spent. There's a good chance the money spent won't create the equivalent asset value - so the money in the bank needs to be given quite a discount.
The only "destruction" I see is wealth destruction thanks to the likes of you who have been calling the stock a good buying opportunity from much higher levels.
Banter and General Comments, page-4448
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