We're looking to do some heavy buying of the UK stock Home Entertainment Corporation (HET) at around the £0.50 level, currently trading at around £0.61.
The reason is twofold -
1) Assets at a discount. Assets by our simple calculations are around £0.95 per share. Of course, we also have to take into account that the companies main business practice, the renting of videos/dvds is under threat. This is why we want the extra protection that buying at £0.50 offers.
2) Turnover is £140 million per year and the market capitalisation is just over £11 million!
In our view at £0.50 a share the company is a steal.
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