Reading International Continues Growth, Real Estate Remains Undervalued [View article]
Nice article, thanks. I see from your body of work on SA that your bullish on Reading. I have alot of respect for fundamental pricing too but with all it's money tied up in real estate shouldn't this company be trading at a discount for no other reason than illiquidity and other minority shareholder issues? Even fundamental WACC's would penalize Readings cash flow for this reason alone. It seems like the market has spoken.
Reading International Continues Growth, Real Estate Remains Undervalued [View article]
I see from your body of work on SA that your bullish on Reading. I have alot of respect for fundamental pricing too but with all it's money tied up in real estate shouldn't this company be trading at a discount for no other reason than illiquidity and other minority shareholder issues? Even fundamental WACC's would penalize Readings cash flow for this reason alone. It seems like the market has spoken.