Google Finance
Filing
Feb, 19, 2015
2015 Q3 Data
1.Basic Information
(1) History
This is pretty much a close end fund similar to Urbana.
(2) Business related:
(3) Management.
George Armoyan is the key person in this company. He is more like an active value investor. His style is to invest in troubled companies and actively involved in target company. He had been doing very well for many years except at 2008 finical crisis.
(4) Debt and Credit facility.
No debt.
(5) Insider holding, options, Insider trading info, share buy back.
George currently hold around 7.3m shares. Which is close to half of the total shares.
(6) Employee numbers(7) Auditor
(8) Industry comparison.
(9) Major events
2. Financial data.3. Valuation
Currently the stock is around $9.23 with market cap around $145m. While book value is around $11.80. Around 1/4 in cash and 1/2 in investment.
4. Risk
5. Conclusion
The company is similar to URB. However, the management is more friendly and willing to buy back shares aggressively. Currently there is also a dividend of 4%.
6.Links
http://www.theglobeandmail.com/report-on-business/rob-magazine/the-lone-raider/article694584/?page=all
Updated Oct. 2016
Current price $9.2. Book $10.9
It declared $2 special dividend at June and now the market price is closer to book value.
http://www.theglobeandmail.com/report-on-business/rob-magazine/the-lone-raider/article694584/?page=all
Updated Oct. 2016
Current price $9.2. Book $10.9
It declared $2 special dividend at June and now the market price is closer to book value.
