In fact - here is what I wrote in that thread about CAPCO: "We had it out about these two before, you and I Padner (as Peter Sellers would say,)I didn't like Capco At R100 (or whatever it was back then) and I still don't! Of course Intu Is leveraged (and not that badly by UK standards) - she is a REIT! That is her model. CAPCO will struggle to raise capital in this environment and any need to raise capital or offload projects in order to remain sufficiently liquid. CAPCO is all in London and mostly undelivered. Intu Is in Spain, a bit the U.S. And Another bit in India. her model is exportable and inflation adjustable (winthin reason.) CAPCO is captive to the city of London, has no meaningful revenue stream to satisfy her rollout and must rely on unit sales to subsidize this. These units have collapsed in price.) CAPCO is a non-starter. She also has barely any dividend (none for the next while, I'll wager.) to defend her valuation. If she crashes to R20 or so - I'll take a couple of hundred thousand shares; until then- you can keep her!"
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