St. Joe Company
Get Quote: JOE
Price on 12/17/08: $28
Total return: -5%
Any other year, we'd be patting ourselves on the back for making a wildly contrarian bet on a Florida real estate company and having it outperform the S&P 500 by 32 percentage points. Of course, the still lost money, but to us that just means that a buying opportunity remains.
For the uninitiated, St. Joe is the largest private landowner in Florida. The stock market is now valuing those land holdings at a mere $4,000 an acre. Plus, most of those acres are in northwest Florida, an area whose economy will be transformed by the opening of a new airport in Panama City in 2010.
Our advice: HOLD
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Last updated December 22 2008: 10:11 AM ET
RSSNote: Starting date for all total return data is 12/3/07, except Genentech, which is 12/5/07.
