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Strategies & Market Trends : Value Investing
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To: cfimx who wrote (5494)12/19/1998 11:35:00 PM
From: Paul Chapman  Read Replies (1) of 78666
 
Check out SVIN. It's a California grape producer currently selling close to Yahoo's bookvalue of $4.24. The really interesting thing is that it lists its 3,600 acre land holding at the original purchase price of about $1,900 per acre, and cultivated vineyard property is currently selling for as high as $50,000 per acre... rereader.com. They have 3 lines of credit secured by acreage valued by their creditors at a very conservative $5,000 to $9,000. Even if you ignore the $50,000 valuation and use $9,000 per acre, the adjusted book value is close to $10. This means the stock is really selling at less than half book value on the most conservative basis. Check it out yourself.
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