Interesting idea but it appears only $22.2K AUD of stock has traded since 2022… and only $1,760 since April 2022. Warren Buffett would have to be very, very young to put 100% of his assets into this! As there is no volume on offer at all, and the recent trades have been so small, it seems highly unlikely that anyone could buy shares at the last traded price yet alone a meaningful amount.
Yeah, this is a new level of illiquidity. I just wanted to point out situation WB would be definitely interested in and this was my best example I have. He would probably make an offer to some big shareholder or for the overal company and see what they have. So it was more about the situation rather than this stock. Just shows what is hiding there.
Thanks, Jakub. I love the no-brainer investments Buffett made. This was a great read. I love illuiqidity but this one is dead in the water. Imagine you find someone up for a private transaction, I bet that person would ask for a lot more than the currently listed price. But one might get lucky. Still, a great analysis! Thanks for the write-up!
Tough to say. I had not really looked into management as I can’t buy it. But who knows. They might do something, they may do a dividend after selling it. Recently they did super small buyback. If there will be only a bit of positivity, this could rerate proportially.
Yeah I am not following the stock as I can not legally buy it. I just thought it was interesting case that was worth highlighting. Obviously after some more reading, it does not strike that obvious. But the asset value and profits stand.
Interesting idea but it appears only $22.2K AUD of stock has traded since 2022… and only $1,760 since April 2022. Warren Buffett would have to be very, very young to put 100% of his assets into this! As there is no volume on offer at all, and the recent trades have been so small, it seems highly unlikely that anyone could buy shares at the last traded price yet alone a meaningful amount.
Yeah, this is a new level of illiquidity. I just wanted to point out situation WB would be definitely interested in and this was my best example I have. He would probably make an offer to some big shareholder or for the overal company and see what they have. So it was more about the situation rather than this stock. Just shows what is hiding there.
Thanks, Jakub. I love the no-brainer investments Buffett made. This was a great read. I love illuiqidity but this one is dead in the water. Imagine you find someone up for a private transaction, I bet that person would ask for a lot more than the currently listed price. But one might get lucky. Still, a great analysis! Thanks for the write-up!
Owners control the company thru the fund he controls. I don't think he gives a f about the minority shareholders tbh.
The way you get paid out here is if he decides he wants a dividend
Tough to say. I had not really looked into management as I can’t buy it. But who knows. They might do something, they may do a dividend after selling it. Recently they did super small buyback. If there will be only a bit of positivity, this could rerate proportially.
Thanks for the great write up of a very interestng liitle stock.
This worries me however:
" Financial:
The Group has elected not to insure for damage from named cyclones due to the high cost and absence of insurers internationally,
that are willing to provide cover for “named cyclone” risks. "
Queensland=cyclones.......
Even if I could I would not put more than a few percent in this.....
Thanks for highlighting David,
Yeah I am not following the stock as I can not legally buy it. I just thought it was interesting case that was worth highlighting. Obviously after some more reading, it does not strike that obvious. But the asset value and profits stand.
Interesting story,it would be good to know why it is so cheap and why management did not tru to get value from this assets
someone didn't read
lol
what he didn't read?
That I could not find a way to buy.