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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (52643)	10/30/2013 1:01:48 AM
From: Jurgis Bekepuris	Read Replies (1) of 78748

SWRAY - property drives it: swirepacific.com So really it's not Cathay and not other businesses. If you look at swirepacific.com you can see it there too: property drives it both in profit and ROE. I guess you can still argue that it's fine to buy at current discount to book. That might be true. Depends on how bubbly HK RE is and what's your outlook on that. But I would not buy this stock without a strong understanding or view on the RE. Cause other parts are unlikely to move this company much (nah, sure, everything's possible, aviation could move it a bit, but RE is still the biggest moving part).

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