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Newcastle Investment Corp. Message Board

  • bobstewart1952 bobstewart1952 Mar 3, 2014 11:22 AM Flag

    golf courses purchase

    I think these guys will buy anything they think they can buy at a deep enough discount. I mean anything. Look at the pattern of asset buying by FIG. They bought the bankrupt MMA railroad among other things.

    If you check out FIG's recent purchase of the ski resorts and subsequent spin off (symbol SNOW), then NCT's purchase of the golf courses would fit. I would think of the demographics which affect skiers would not be as good as the demographics that impact golfers.

    I know a lot more older golfers than I know older skiers. If most of the courses are in areas where we would like to spend more time (Scottsdale ,right Aghfella?) then the golf purchase makes more sense long term.

    If they really want to think that long term, what is the selling price if farm land in California's central valley with the water issues they have there? Couple that with FIG's Infrastructure fund. Try remediating or developing water infrastructure, and what would be the long term benefits of that. China is doing it as we speak. Also, how much water do you think a golf course uses? Water and land.

    Bob S.

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