[Nwallins]

I don't understand this point:

> I don't remember the exact details of the buyback at TheStreet.com but we started buying the stock and it kept going down. We kept buying it. But we were losing money on each buyback because we were overpaying for our own stock as it kept going down.

It seems to me that if your stock is trading at under book value, then you would be underpaying if you are buying it. Especially if it keeps going down.

Isn't the idea that the stock is undervalued? Why not buy low now and even consider selling high at a later date?