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Stocks Down Under 14 September 2020: Washington H Soul Pattinson & Company, EQT Holdings, Greenland Minerals
Washington H Soul Pattinson & Company: Solid company but overpriced
Washington H Soul Pattinson & Company (WHSP) is a broad industry investment house listed on the ASX on 21 January 1903 (called Sydney Stock Exchange back then). In an impressive statement on WHSP’s effectiveness the company has consistently paid a dividend to shareholders since 1903. The company has no specific mandate for which industry it can invest in, allowing a portfolio with listed companies, private equity, property and loans. The company is currently priced at a premium to price to tangible book value (P/B). However, we believe that is putting the cart before the horse.
Also in today’s edition, a look at equity trustee EQT Holdings and rare earth miner Greenland Minerals.
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