May. 22 at 7:34 PM
$SEB I was honestly a bit shocked to get so many orders filled at the open in the
$2400S. I’ve now built a solid full position with an average cost of
$2471 and am comfortable sitting tight for a move toward the
$3200+ range. The combination of the buyback and shares trading at just 40% of tangible book provides a solid margin of safety. The buyback should be completed by year-end at the latest, possibly sooner, and it represents a meaningful chunk of the float.
