bookie71 Posted February 8, 2010 Posted February 8, 2010 The 2009 annual report is out at: http://www.centralsecurities.com/AnnualReport2009.pdf Chuck
Munger_Disciple Posted February 8, 2010 Posted February 8, 2010 Looks like they have a 30% stake in a private insurance company Plymouth Rock. Does anyone have any information on Plymouth Rock?
bookie71 Posted February 9, 2010 Author Posted February 9, 2010 On their site I believe they have the appraisal and it is discounted because of lack of marketability, I haven't checked recently. but it was on there a few months ago.
Tim Eriksen Posted February 9, 2010 Posted February 9, 2010 Plymouth Rock's web site www.prac.com has annual reports and yearly appraisal information. The 2009 appraisal valued Plymouth shares at $3,265 less a 20% discount for lack of marketability, resulting in a $2,610.00 per share value. It looks like Central Securities discounts it further to $2,200 per share ($154 million divided by 70,000 shares). EPS for Plymouth was around $200 per share in 2007 and 2008. Book value was $1,543 at the end of 2008. 2009 results will benefit from the sale of Direct Response Coroporation which will result in a $14.9 million gain before income taxes ($81 per Plymouth share before income taxes).
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