Not a stock we pay much attention to, but the news of the varroa mite was interesting. One way or another, everything runs on bees.
The periodic disconnect between the assets accumulated, by Select Harvests, and what the market believes they are worth, is quite stunning, over time. Several instances of tremendous divergence.
In our view, in a disconnect between market value, and book value, the market is usually right.
A quick look at the cashflows, earnings, and gearing are sufficient to cause us to look elsewhere.
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