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There was a company named Merry Brick, back in the 80's, which I found among those Forbe's listed as "Fastest growing small companies". I bought it for $10, and someone bought out the company for $25. But they held on to the land where the clay was mined, and used it as a core holding for a REIT called Merry Land and Development Co. Seeing that there was this small left-over distribution from Merry Brick, I held it until the company was sold for a price in the 20s (after a split, as I recall). Anyhow, same old management. They held out some apartments from the sale and are using them as a core holding to build a company around with the symbol of MRYP - I think it is Merry Partners or Merry Property, or something like that. Selling for $5. Looks like they will earn $2.00 this year....but a lot of that is flow over earnings from the sale of MRY, the parent. That may fall to .40-.60 cents, next year. I think this is pretty good management - at least they like it, because management keeps buying up the stock. |
