■ BUSINESS & FUNDAMENTALS EPS Growth: 7% CARG (10yrs Avg) despite 2020 dip Dividends: Growing 7% CARG (10yrs Avg), payout <25% Balance Sheet: Debt/Equity 0.42, Current Ratio >3x Book Value: 7.89/share vs 2.04 price (0.26x P/B) Recurring Income: Rentals 25% or revenue (stable cash flow) ■ INVESTMENT CASE Buying earnings and assets at deep discount Dividends (4 - 6%) providing steady income while waiting ■ Upside potential: Conservative P/E: 3.5 - 4.0 (70 - 100% upside) Base P/E: 4.4 - 6.0 (2 - 3x return) Bullish P/E: 6.0 - 8.0 (4 - 5x return) ■ Megaworld (Meg) fundamentally strong, undervalued with a wide margin of safety. ■ Strategy Accumulate below 2.50, trim at Base P/E, and ride optionality to bullish PE Dividends provide cash flow while waiting for market appreciationRead more