Value investors take up suffering propertystocks

Value investor Andrew Weiss is buying heavily into listed propertyfirms such as Treveria.

Let me first point out to the Time article on Weiss, from William Green, published on Oct. 8th, 2008: One Financial Doomsayer Sees More Doom Ahead. Interesting read! One particular paragraph draw my attention:

[Weiss:] “People are freaking out, and it’s a good time to make money when everybody is freaking out.” One shell-shocked area where he’s finding extraordinary bargains: illiquid funds with troubled investments in property. “You might very well lose all your money,” says Weiss, “but there’s a chance of making enormous returns.”

Apparently, Weiss is betting on the chance for enormous returns… At least, he is betting on Treveria (TRV). On Nov 27th 2008, Weiss Capital announced it had acquired 5% of voting stock in Treveria, on behalf of the Brookdale Funds. A few announcements later, on Feb 20th, 2009, Weiss annouced to have crossed the 12% treshold of holding voting stock in the company. Weiss is known for doing his homework excellently. And for hiring best-of-class industry specialists to do his homework for him. Weiss buying into such shares is clearly a recommendation for value-investors looking for a bargain.

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Stockprice TRV at time of writing: EUR 0,075
Disclosure: no position in TRV