Tuesday, August 4, 2009

Barron's Agrees

Is it a coincidence? I don't know, but the timing and content are suspiciously similar.

Today Barron's ONLINE posted an article entitled "Loews Still Offering Dollars for 70 Cents" saying that "Despite (the) recent mark-up, (the) conglomerate's discount to NAV persists."

Here's a quote:
Loews chief executive Jim Tisch isn't happy with the big discount, calling it "really frustrating" on the company's conference call this morning. "So sometimes I feel when I think about Loews like the guy who is hawking something on TV, saying but there's more, and there's more. And listen, the market is well aware of that but it selects not to pay attention."
Was my "Frustrated at Loews" post spot on or what?

It gets better, speaking of DO, CNA, and BWP, Barron's says:
These three investments total about $32 per Loews shares, meaning investors are getting the company's wholly owned assets essentially free.
You don't say?!? Where have we seen this EXACT analysis before?

Furthermore, Barron's estimates that "Loews' NAV is around $46 a share."

Seriously, are they reading this blog?