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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (51671)	6/3/2013 1:33:15 AM
From: Paul Senior	Read Replies (1) of 78520

WLFC. A value case might be made for this aircraft engine lessor based on its low price to stated bv. I do know that AAII has it in their respected "Shadow Portfolio". I've been in the stock years past at lower prices. I don't like it at this price because it's at price/bk of .58, and that's close to the high number where the stock has traded in the past decade (yearly average). I could accept that --if bv were increasing over time. Over the past seven years stated bv has gone from $20.47/sh to about $26/sh (in 2011) down to about $23 currently. So bv hasn't increased much. D/e looks like it has though -- from about 3-3.25x to 3.75x. There's no dividend being paid. Might it be possible that this thing is a value trap at current price and "low" p/bv? Or maybe it isn't. I basically just have shrugged my shoulders and said I'm just not interested in putting down a bet to find out. (Also as I say, I'm already involved with a couple of aircraft leasing companies, and that's enough for me now.)

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