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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (13391)11/30/2001 3:25:48 PM
From: Paul Senior  Read Replies (1) of 78485
 
I've started a tiny position in Kennedy-Wilson, a thinly-traded microcap in the real estate business. This is another example, imo, of a stock where for the potential small investor, it's nearly impossible to understand KWIC businesses; or else the time spent to figure it out imo is hard to justify by the risk of taking on a large position or with the payback one gets from going with only a small position.

kennedywilson.com

Here are some aspects of KWIC that interest me:

Price is near a three year low.
Revenues have been generally increasing in past few years.
Stock, now at $3.50/sh., is below book value of about
$5.9/sh.
In past few years, KWIC has often earned between $.5 and
.8/sh (and so current p/e is low --looking backwards)
There's a very small amount of insider buying recently and
at higher prices than now.
The officers/execs make a lot of money for the size of the
company.
There are a few value funds which have small positions
in this stock.
The company's been around for many years, but seems to be reinventing itself.

Imo, any outside investor who buys this thing ought to be a value investor who only takes on a very small amount of KWIC stock and who is willing to wait 18-36 months to see a favorable return.

finance.yahoo.com

Paul Senior
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