tag:blogger.com,1999:blog-5011732.post4730446116089897798..comments2023-06-07T12:24:40.914-04:00Comments on CHEAP STOCKS: Below Net Current Asset Value, Real Estate, and other Value Strategies: Jonathan Heller, CFA, Editorhttp://www.blogger.com/profile/04330933364296303215noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5011732.post-39868997910122186152007-08-13T13:22:00.000-04:002007-08-13T13:22:00.000-04:00I think St Joe is an interesting example of opport...I think St Joe is an interesting example of opportunity lost. They have become a victum of the residential homebuilding downturn because of they are absolutely tied to the demand for the land they sell for homes. Dispite there exit from the actual homebuilding business they still require this segment to be expanding in order to remain profitable. Interesting enough, they have and continue to overlook a remarkable opportunity to enhance shareholder value through the commercial development component that goes hand in hand with the development of there land holdings. They have the ability to leverage there assets in significant multiples by seizing control of the commercial opportunity they create with there residential development. Instead of moving in this direction they have abandoned this option (Advantis was a classic mismanagement nightmare)and continue to monitize there commercial assets when they should be expanding this portflio to help offset the residental downturn. These cycles can often go in the opposite direction and if this philosphy was effectively applied could easily offset there current problems.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5011732.post-86229000406016680422007-08-08T22:30:00.000-04:002007-08-08T22:30:00.000-04:00The comment about Ft. Myers is out of date. There...The comment about Ft. Myers is out of date. There is construction all around the new airport which is several miles from the water.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5011732.post-81859084757402027282007-08-08T16:08:00.000-04:002007-08-08T16:08:00.000-04:00you are saying the land is work $10,000 and he is ...you are saying the land is work $10,000 and he is saying land is selling for $2000, I think that is the major difference here right?<BR/><BR/>He is valuing the company based on what the land is selling for, and you are valuing the company based on the EV! I think what land is selling for provides better description of what is on the ground, don't you think? please let me know if I have misunderstood..bsiviahttps://www.blogger.com/profile/11095444148847533914noreply@blogger.com