Oidon Company, Ltd. (OIDN)

[RedSky]

Redsky saying....can that happen here with mgmx?. may be ,ay be not right who knows?. that way i'am choosing here.



Recently, for example, I found a company that owns about 800,000 acres of land, including over a hundred miles of undeveloped beachfront, in Florida. As far as I can tell, buying shares in this company is as close to a perfect investment (as defined above) as I'm going to get in my lifetime.

It has very little debt. And it has all that land... most of which was purchased in the early part of the twentieth century for as little as $2 an acre.

Today, some of that land has been developed... and has sold for as much as $61 a square foot, or $2.7 million per acre.

Since the land is carried on the books at early twentieth century prices, I don't even care if I buy the shares today and the company shuts down tomorrow. The land is easily worth four times what the company trades for in the stock market today. So there's very little risk in buying today



Since the land is carried at such a low cost, it's unlikely that it could ever fall in price far enough to have any type of negative impact on the company's high returns. That's a high return and safety.