Apologies. Anyone with a brain.
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Surely the equity value is the markets assessment of the cash OCA can produce.
Flavours of Sailor Rob there, hinting that others arent serious investors. Bit of humility needed, loads of successful investors on here with different strategies. Particularly now, its a funny old time on the sharemarkets generally, lots of sh!t cos going up like crazy. Shame not to join the party IMHO. Cause celebre probably doing ok with crypto this year... awesome
According to the last financial report they get two valuations from commercial property brokers.
So the next valuation I assume will wipe out circa $200M plus of asset value + whatever they have completed in that time.
Very approximate.
Original post was ambiguous. I read “cos” as an informal “because”’. However OP may have meant “companies” so fair enough. There is always a wide disparity in performances for various reasons. There are 181 listings on the NZX from big to small. So if some dreadful companies have shot up, maybe some good as well as bad companies have gone backwards…including OCA. Overall the market has been fairly flat so far.
mpg down 27%, peb down 26%, Kmd down 20%, sct down 20%, hgh down 18%. RYm down 18%, SKL down 11% etc.
In NZD terms, and in capital terms European markets are up an average 10% and S&P500 is up 15%
What's your point and what does it have to do with OCA? You implied (maybe said in a way) that the NZX is a dog market, when it's not at all for specific shares, it's only a dog if one has a market index, or the shares that the market currently thinks are worth less than they might be through the eyes of a value investor.
But that must surely be the definition of opportunity, seeing value in underpriced shares, and getting some, or some more? If you value a market and its shares by the share price that the market affords it, then you will miss any opportunity to get some, or get rid of some, when the time seems right to do so.
I think that your generalism on this was the undoing of your argument. As far as OCA is concerned, imho it would be wise to ask oneself whether now or around now is a good value investment, be it to get some, or accumulate a few more. I'm in the later having gone overweight OCA. It's cheap, cheap as, and in a year or two from now I expect to be proven right, by the market who right now are mis-pricing OCA, to our advantage.
Carpe Diem.