Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Harry Winston Diamond Corporation HWD



NYSE:HWD - Post by User

Post by u2bobon Apr 20, 2009 8:36pm
514 Views
Post# 15932011

Looks like time to buy again!

Looks like time to buy again!

Wow sold half my position on Friday...cant believe I may have a chance to get back in on the cheap...great long term stock to accumulate and trade on the bumps!

In our January issue, I looked at shares of Harry Winston Diamond( HWD - news - people ), one of the premier diamond miners and retailers in the world. At the time, I argued that it looked cheap at $3.90, an 87% plunge from its price just six months earlier and 30% of book value. It then proceeded to get even cheaper, hitting $1.72 on March 9. At that point, the valuation was simply absurd.

Canada's Kinross Gold ( KGC - news - people ) apparently agreed with me. The company stepped in and bid $3 for a 20% stake in Harry Winston. This is no day trade. Strategic investors like Kinross don't buy because they think there's a slight 20% or 30% upside. They're looking to make their investment back several times over. In the words of Kinross CEO Tye Burt: "When do you buy a significant interest in a world class asset? When it's available and hopefully at an attractive price," he said. "We think there's tremendous leverage in the equity price."

https://www.forbes.com/2009/04/13/citigroup-hwd-kinross-personal-finance-guru-insight-stock-valuations.html

<< Previous
Bullboard Posts
Next >>