Anyone who has followed me for a long time knows that my favorite type of investment is something where the company's financials obscure its true value. For example, I noted that Gramercy (GKK) was trading way below liquidation value, but that liquidation value was hidden by the consolidation of some non-recourse debt. Long story short, the company eventually disposed of those non-recourse assets and the stock shot up as a result.
Whenever I find one of those situations and it works out successfully (i.e. the stock rises and I start to sell), I find myself thinking "The easy money has been made here." With all that in mind, I present Imperial Holdings (IFT). The stock has run...
Only subscribers can access this article, which is part of the PRO research library covering 3,573 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: