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"Loews (NYSE: L), the holding company of the New York-based Tisch family, is a way of buying a collection of good stocks at a discount, with much else thrown in free," says Adrian Day.
The editor of the top-notch The Global Analyst explains, "These value investors have a long record of buying quality assets cheaply when they are out of favor, nurturing them, and eventually monetizing them."
"Everyone loves a sale, right? Typically, the Tisch family buys major chunks of out-of-favor businesses, often publicly traded, and holds them for many years. They exemplify the important traits of successful value investors: discipline and patience.
"I calculate a New Asset Value for Loews-taking current (depressed) stock prices for its publicly traded holdings, the cash, and conservative valuations for the private assets-of almost $39 per share.
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