The phrase
"value realization" means the process of recognizing, achieving, or obtaining the true worth, benefits, or advantages of something.
Full definition
The downside seems to be covered and the company seems to be moving in the right direction
for value realization.
This is the best way to highlight how they can deliver a dramatically improved return, due to the (potential) acceleration
of value realization.
It seems to me that each announcement in some way hints at a shift in focus away from operations and drug development and
towards value realization.
Vagueness can be avoided, of course, if we go to the logical extreme of such a move, which would lie in attributing to the consequent nature all valuations, reserving to the primordial nature only the constitution of metaphysical possibility and the subjective aim
toward value realization in general.
Arcturus Group, a real estate advisory and asset management firm, completed its assignment to advise
Canyon Value Realization Fund LP and Trilogy Portfolio Co., B - note holders in the Atlantis Resort in the Bahamas, on strategy, valuation and debt structure in connection with the litigation and restructuring of $ 2.6 billion in debt on the asset.
Arcturus Group, a real estate advisory and asset management firm, completed its assignment to advise Canyon
Value Realization Fund LP and Trilogy Portfolio Co., B - note holders in the Atlantis Resort in the Bahamas, on strategy, valuation and debt...
Governed by its subjective aim, a concrescence will naturally follow the historic routes which have led to previous satisfactions and avoid those which have minimized or
trivialized value realization.
Ownership of ENZN would seem to confirm this; a large portion of ownership is concentrated in the hands of hedge funds that would probably like to
see value realization sooner rather than later.
And poor RoEs, management neglect of shareholder value, and the absence of activist investors meant prices weren't actually that cheap, and there was little chance of
value realization anyway.
Intrinsic value still looks significantly higher for AERL — recent hints / steps to distribute surplus cash to shareholders should help with
potential value realization.
Therefore, I believe a fund de-listing is far more palatable than one from a regular company — in light of
likely value realization, it should probably even be embraced!
Although this means that there will be no catalyst for
value realization in the short - term, I actually think this is good news because it means that Sellers will remain on the board to guide the company's capital allocation.
If I do take a position, I would likely try to acquire a large position (circa 5 % or more depending upon trading spreads) and communicate directly with management and the other shareholders to bring
about value realization.
The company's focus shifted, R&D staff was slashed, the then - president left (or was shown the door) and there appeared to be a movement
toward value realization.
Corporate spinoffs, share buybacks, recapitalizations, and major asset sales usually bring about only
partial value realization.
Owning securities with catalysts
for value realization is therefore an important way for investors to reduce the risk within their portfolios, augmenting the margin of safety achieved by investing at a discount from underlying value.
We believe that we are at the beginning of a period
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If God seeks maximum enhancement of value within the realm of finite occasions, then he would not seem to favor
some value realizations over others.
The short answer is the upcoming split and spinoff of Liberty Broadband which I think will be
a value realization catalyst.
Then, of course, uncertainty as to the timing of
value realization has been reduced, but the exact amount of the value that will be realized and whether the auction will even be successful is obviously still not clear.
If management's suitably restrained, cash re-investment can be just as good a source of
value realization / enhancement.
In TMW's case,
value realization could be a return of cash, a sale of the company or business, or a re-investment of their cash.
So this kind of upside, or
value realization, may never happen... But I don't believe this presents as big a risk as you might think — it amazes me how many companies have none of this potential upside priced in!
Considering both catalysts, there was finally a visible / timely path to
value realization (not that I expected NAV to be attained!).
A liquidation analysis is a theoretical exercise in valuation but not usually an actual approach to
value realization.
If the price stays low, it's a great opportunity to execute even more share buybacks... And owner - operators are always confident intrinsic value will be recognized eventually — after all, they are in the perfect position to prompt
that value realization, if necessary.
, Farringdon Capital & Pascal Taggart, I'm highly confident there will be continued & rapid value creation here (and
a value realization event at an opportune time).
But this ignores the much shorter / more certain timeline involved to
value realization — the much larger Gross IRR highlights this nicely.
This is not to say there are no value traps with larger cap companies, but the catalysts for
value realization are often different and must be considered.
With larger cap companies,
value realization can come from the market waking up and realizing the true value of the security.
I won't hold my breath in terms of
value realization, but if it helps BBEP to reach my target exit price I'll be more than happy.
My interpretation or recent corporate events is that
value realization for holders of ENZN is nearer than ever, and I'm a bit more comfortable as I feel that capital allocation decisions are now in the hands of experienced capital allocators.
Or eventually there's only a few minority shareholders left, and the valuation gap's narrowed sufficiently, that it finally makes better sense to take them out at a premium & finish off
your value realization in private.
Actually, this probably understates Upside Potential, which would be enhanced by i) any further share buybacks (at a discount to NAV), ii) any NAV increases, based on income / capital gains (I won't speculate on this, but note the v positive income tailwind highlighted previously), and iii)
a value realization «event «would likely offer a share price premium, or even NAV.