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Are You Looking At Any Companies Trading For Less Than the Sum of the Parts?


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Genworth (GNW) plans to continue monetizing non-core assets, including Genworth Australia later this year. It trades at 0.3x tangible book value.


Vodafone (VOD) owns 45% of Verizon Wireless, PNC owns 26% of Blackrock, and EMC owns 80% of VMWare.  In my opinion all look very cheap on sum of parts.


Also Exor, FFP and Porsche: http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/auto-manufacturers/msg95647/#msg95647

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Visteon is another, though I haven't kept up with their progress:





JP Morgan noted, "We upgrade shares of Visteon Corporation (VC) to Overweight from Neutral, on the belief that the firm will act aggressively to fully realize the value of the sum of its various parts and upcoming catalysts that should give investors reason to more highly value its two most compelling assets. Visteon will be hosting two analyst days, on March 12 in Shanghai and on March 14 in Seoul, to highlight the attractiveness of its 50% stake in China-based Yanfeng-Visteon (YFV) and its 70% stake in publicly traded South Korea-based Halla Visteon Climate Control (HVCC)."
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