Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next
Author: TMFHelical Big gold star, 5000 posts Old School Fool Coverage Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 16  
Subject: Transcript Q3 Date: 11/4/2008 5:52 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Attached.

http://seekingalpha.com/article/87184-cohen-amp-steers-inc-q....

Glad I sold out of this over $30. But when to get back in (not whether, I really like this company).

CNS is @$17.60 today with a cap of $731M and EV of $519. According to the transcript (which I haven't yet read), assets under management were $24.6B -- at the end of September. The market has been in a brutal sell off since then (and yeah, before then too), including or especially REITs, which make the majority still of Cohen's product holdings. The Vanguard REIT index is down about 33% since 9/30.

So lets say AUM gets clobbered an additional 25% since the call (which would be just brutal). That would leave $18.45B. So CNS has an EV of about 3.7% of AUM. I'm a buyer at 3% so I missed this at $14. Under $16 I'm likely nibbling again (10 days from now anyway).

TMFHelical
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement