Cresud warrants run for another 6 years. The stock is at about 13 today. Last year when the stock was at about this price the warrants (CRESW) were selling at a multiple of today's price. Meanwhile the stock price has risen and the warrants are at where they were when the stock was at around $6. At the same time the company has bought back a significant amount of its shares and that of IRS at a significant discount making the warrants even more valuable than they were last year. If you expect the stock to finish above $20 in 6 years (if not, then why would you invest here)...the warrants are cheaper way to invest in this company...never seen 6 year warrants as cheap.

You can compare CRESW/CRESY stock prices at

http://www.bloomberg.com/apps/cbuilder?t...