Baran: Nagao's inventory resale value was 8x its market cap
David Baran · David Baran and Kazuhiko Shibata – Friendly Activism in Japan at Symphony (Capital Allocators, EP.176) · Feb 8, 2021 · at 50:09
David Baran, co-founder of Symphony Financial Partners, describes identifying deep balance-sheet value in Japanese modular temporary shelter maker Nagao.
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“The interesting thing about this company was when we found it, they were trading at a discount to the value of the units that they owned. If the company at the time said we're going to sell all the units, And take the cash and dividend it out. It would have been an eight X.”
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