Originally Posted by
ILoveTheIRD
I've been lurking on this thread for a few months. Reading this has been a lot of fun and is part of the reason why I had joined this forum. Sky is my biggest pick in my portfolio.
It sucks that it is down but I don't think we should be demotivated by factors like the property sale which is bound to happen sooner or later. It's fair to expect that it's going to be a slower sell than smaller residential million dollar properties in the area. It's a pretty big piece of land with a big asking cost. It's all dependent on finding the match made in heaven. The longer it takes, in this market, isn't necessarily the worst either. There still seems to be a fair bit of steam in the growth of property prices which can't be a bad thing for us.
The sale of the property will be a nice extra but it isn't the sole reason why I am attracted to this stock. The way I see it, I believe it's still crazily undervalued. There's a healthy balance sheet. It's making us a profit which could then be used to give us a dividend in the future. It may take longer but it's not out of the picture. Realistically it will take a few years for Sky to get the valuation it deserves but the wait will be worth it. I'm looking at how they can maintain profits sustainably, how many users will be on the broadband network, and them getting more people to join up Sky in one form or another. Based on those metrics, things look on the up.
Don't lose hope.