LEI have made some bad decisions over the past few years and...

LEI have made some bad decisions over the past few years and that has really impacted their performance and financial position. But when you look at the nuts and bolts of the business, it is a money-generating machine. It just needs to be managed properly.

Historically it produces ROE of around 20-30% and currently has a book value of around $7.80 (please correct me if this is wrong). With a share price around $16.00, I believe the risk is well and truly factored in. The recent string of bad business decisions have pretty well been dealt with, so if the new management are on the right track, there is major upside to LEI in the not too distant future.

My novice opinion is BUY!