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Torstar


Zorrofan
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  • 5 years later...

FFH increased their holdings in Torstar.

 

http://www.fairfax.ca/news/press-releases/press-release-details/2016/Fairfax-Announces-Acquisition-of-Shares-of-Torstar/default.aspx

 

down and dirty Torstar summary

 

- dividend yield 6.9% (dividend cut twice already this year)

- price to book .47

- no bank debt or bonds payable

- Income statement is a disaster (many quarters of losses, consistently falling revenues)

- they bought 56% interest digital media company VerticalScope for $200 million last year.

- maybe its too early to say whether this was a good investment or not

- they are currently trying to sell their printing facility in Vaughan, Ontario

 

I have to admit that I have contemplated taking a nib of Torstar myself, (partly based on that the stock is so hated).  But I chickened out thinking the price would go lower in a general market correction (which never seems to happen).  I guess this represents a deep, deep value investment for FFH.  Maybe they are seeing some hidden values in the assets that I have been too lazy to uncover. 

 

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