Please Explain, page-18

If any of the posters here have not been followers of ALF for the last 10 years, you probably are unqualified to pass judgement on their SP v NTA divergence.

My best memory is that the company has traded at a deep discount to NTA at least 3 times and bought back their stock (at a deep discount) 3 times. In each case the SP and NTA swung the other way into a premium, only to reverse again.

The way to invest in this stock is buy at a discount, hold for a year or 3 then sell at a premium. This is not a buy and hold stock. Hardly rocket science I would have thought.

And by the way, if someone sold me $100,000 of diversified assets for $85,000, I'd take it every time.

Traders, yield investors or short term investors should know never to touch the Watermark group. Contrarian investors, the picnic basket is set. The weather is currently somewhat overcast so bring your umbrella and some patience..