Only recent when I came across the First Philippine Holdings (FPH) stock price. I initially had performed an analysis of this company three years ago in this link.(http://perennialinvesting.weebly.com/first-philippine-holdings-fph.html)
The current market price of 95.20 Php/share (http://www.bloomberg.com/quote/fph:PM)
indicated a big leap from the 2012's market price of 48.90 Php/share, an almost 100% gain-taxes excluded. I am fairly somewhat not surprised that the PCOMP had a renewed appreciation of this company given its sound fundamentals and responsible management.
But, this is just one of the cases that applying sensible investing by buying cheap stocks versus their tangible book value provides a healthy margin of safety. Despite the PCOMP's volatility, traders and investors had learned to appreciate FPH in due time-in this case, it took three years before Mr. Market recognized this gem.
The current market price of 95.20 Php/share (http://www.bloomberg.com/quote/fph:PM)
indicated a big leap from the 2012's market price of 48.90 Php/share, an almost 100% gain-taxes excluded. I am fairly somewhat not surprised that the PCOMP had a renewed appreciation of this company given its sound fundamentals and responsible management.
But, this is just one of the cases that applying sensible investing by buying cheap stocks versus their tangible book value provides a healthy margin of safety. Despite the PCOMP's volatility, traders and investors had learned to appreciate FPH in due time-in this case, it took three years before Mr. Market recognized this gem.