Camden, great post and I've just added you to favourites because...

Camden, great post and I've just added you to favourites because of it.

However... there is such thing as a bottom... and there is such thing as value in companies that generate no excess capital.

Cheap is cheap, you just have to allow for all the variables.

I'm not saying IVA is fundamentally cheap right now, I've just been buying based on a short term bottom and bounce scenario.

It might be, and if it isn't it must be getting close.

It costs around $1 million to list a company on the ASX.

If you find a company with no debt and a market cap of 250k, to me that is cheap, and it has value, regardless of how incompetent the directors are or the fact they will never make a profit.

Take QXQ as an example. Chech thread and chart. I picked up a few of those at $270k market cap and sold them soon after for triple that.

I'll buy ANYTHING undervalued, that's all I care about.

A written off hail damaged 1980 Volvo has value for parts and as scrap metal, say $150 or so - I'll happily buy it for $50 and sell it for $100.