Small Cap Value Report (19 July 2016) – RCDO, ENTU, STAF, SFE, PEN, IDEA, BRY, GTLY, DPP | Paul Scott | Stockopedia
Brexit impact – this is probably the most important issue of the moment, determining what shares are worth, so I will continue to focus closely on what is happening. Evidence is mounting that we’re not heading for any imminent catastrophe.
An example – one of America’s largest banks, Well Fargo, has just agreed to buy an 11-storey London office building for c.£300m. That’s surely a good endorsement of their perception of London remaining a major international finance centre.
In a similar vein, an update from British Land (LON:BLND) yesterday was reasonably reassuring.
So the market is perhaps pricing-in too much of a downturn? Who knows, time will tell. I’m tempted to dabble though, as the discount to NAV should reduce if confidence returns.
