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Player Avatar gameguru (33.74) Submitted: 9/26/2011 1:25:45 PM : Outperform Start Price: $5.46 AINV Score: -20.70

AINV looks extraordinarily cheap right now. Selling for less than 80% NAV and P/E of 6, while still sporting a 14% ROE, 8.8% ROI, and a nearly 15% dividend. RIC structure requires that they distribute 90% of earnings. The risk here is that they're inflating NAV by carrying their companies at overly high book values, but with past write-downs, this risk is lessened. They have a buyback program in place and the CFO bought a small slug of shares in August, so insider buying is favorable.

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