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Strategies & Market Trends : Value Investing
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To: Jurgis Bekepuris who wrote (23898)5/6/2006 2:07:01 AM
From: Spekulatius  Read Replies (1) of 78688
 
Any reason it went nowhere for last 4 years? . PVD's earnings were stagnating from 2000 to 2003/4. one of the reason was that the pension fee were lowered from 2.66% to 2.25% (they have stayed there for the last couple of years). I also think that the recession has to do with it. Also PVD is majority owned 952%) by BBV and there is no institutional coverage.
I was buying the stock basically as dividend play almost a year ago, but then i learned that there is potentially a growth story. think about it, the contribution to pension plans for workers in Chile is mandatory. PVD is the largest player (stable 33% market share with the lowest cost, per SEC filings). They basically collect a fee from workers salary and their pension investment, so if employment numbers are OK and salaries are rising and the Chilean stock market is doing alright, PVD should be OK as well.
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