Stockchase Opinions

Craig Millar HAL Trust HAL-EN TOP PICK Jun 03, 2014

A holding company. This is cheap on a “sum of the parts” basis. They own stakes in a number of different European businesses. He puts the NAV at around €140 a share. You can buy it today at €109 a share. In the last couple of weeks, the company has announced that they are either going to IPO or Sell an optical retail business which is located in 41 countries with over 5000 optical retail stores. 3.76% yield.

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Stock price when the opinion was issued

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PAST TOP PICK

(Top Pick Jun 3/14, Up 48.93%) 3.6% dividend. They spun out a business called Grand Vision. It is a holding company. It is a way to get a diversified business at a discount to NAV.

COMMENT

This owns other publicly listed companies, so it is going to go up and down depending on what the companies they own do. Has had a great winning streak until last year when it took a big drop in the summer. Dividends are lumpy because it is based on a percentage of their profitability. It fell from about €7 to €6. He’s not a big fan. Would rather own the individual stocks themselves.