@Rationalize so it should be even less then wouldn't it? Because that cash doesn't earn me any interest and it's better to have 1 bird in the hand than 10 bucks in transit
I was thinking the company earns a return on the cash "in transit", and probably at a better rate than the shareholder would. Thus stock worth slightly more than $90, lol.
Let me correct myself. The objective of CEOs and board is to maximize shareholder value--not necessarily making the stock go up. This could mean 'just' ensuring survival in the event of a severe external environment.
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Good points; investors like dividends also. That maybe why Paul T Jones gave his clients some capital back, in his hedge fund-same principal , even if was NOT called a dividend. Some great trends pay no dividends ; some do.
