http://www.valueinvestingnews.com/stock-tickers/cbs Comments for "CBS" en http://www.valueinvestingnews.com/controlled-greed-portfolio-picks-average-4-6-in-q1-of-2007#comment-508 <p>Last Dec WLT spun off about 86 mill shares of MWA class B stock. Last May WLT craved out 25 mill shares of MWA in an IPO at 16.00</p> <p>Today, MWA goes fot 13.56 and MWA/B goes for 13.25.</p> <p>Both have identical rights EXCEPT that MWA/b has 8 votes to 1 for MWA.</p> <p>By all rights, MWA/B is the superior stock of the two. It has 8 times the voting power with more liquidity.</p> <p>Since both shares have been trading, MWA trades more shares, and is priced higher than MWA/B.</p> <p>I know there still might be post spin selling in MWA/B. But this does not explain why anybody would buy MWA over MWA/B. But that has been the case so far.</p> <p>So far the efficent market is losing.</p> Mon, 02 Apr 2007 19:12:50 -0400 bingopitts comment 508 at http://www.valueinvestingnews.com