Great explanation on why almost all shipping companies trade at a discount to NAV. A shipping company trades at half of NAV. What a bargain! Or is it... Many Canadians assume representatives of the Big 5 banks are obliged to act as fiduciaries—duty-bound to act in the customer's interest. Incorrect assumption; the representative who is advising you at a branch is trained and compensated as a salesperson https://t.co/U657sgf7Ff
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Let's say a shipping company has a fleet of 50 vessels worth $20 million apiece. The assets are worth $1 billion. Suppose it is $500 million in debt. Thus it has $500 million of net asset value (NAV).
