prime space

i like undervalued securities and any good businessman would like what im doing :) getting your money's worth when you buy something :) of course im not saying that value investing is a sure shot thing but the approach allows you to assess at what price you can buy a security with very little downside. but of course in this business anything can happen :) the company that i see that has very little downside is SMPH :) this year the market has been up almost 30% and this company's stock has just gained around 8-12% so i could say that it has been a laggard this year theres a big possibility this stock just might catch up :) while its fellow big time players in real estate like MEG, ALI, CHI etc are trading at multiples of 30 or more. you want to know the reason why? this is so because analysts say that theres not much growth in smph. while other players in the industry are running after bpos for office space smph has been kida open to it but not really going after bpos. so when the time comes that the us will suffer a recession and one of the effects would be the closure of the companies' call centers here. with smph not dependent on bpo space income it wouldnt be that affected by the slowdown of the american economy. i also remember a trader friend tell me before that "ali will do better than smph coz the latter is still a "family" corporation while ali is run by professionals" but i disagree coz it doesnt matter for me but what matters is the competence and how well that person understands the business that really matters and with the dedication and work ethic of the sy family they definitely can bring the company in the right direction. :) just like microsoft who is leading the company a college dropout himself mr bill gaes :) sm prime is a company that has a franchise. it means that the company is dominant in its market :) just look at their business for every tenant in the mall in required to give 6 months advance and security deposit and they will only return it if the tenan twill move out. can you imgine that money that they have in their possession that they got from the security deposits? they dont even have to shell out money for the operations of the mall! they could just get it from the advance and security deposits. and everytime sm opens a mall it brings with them all the big name retailers like national bookstore, mcdonals, jollibee, chowking etc and they just couldnt say no. so even if the department store iis really not doing well smph will always be assured of their rental income :) this is one company thats really strong and it wont be long before this one goes up in price and in my analysis in bad times this stock wont be affected that much :) good luck :)