BBX - BBX Capital: Continue Profiting Into 2018

We have been long-term shareholders of BBX Capital (NYSE:BBX) (previously incarnated as both BFC Financial and BBX Capital) and wrote about the company in 2016, when the share price was well below $3, and again in 2017, when the share price was near $7. Since that time, the share price has risen to $8, though it is still trading at a substantial discount to intrinsic value and at what we believe is actually a superior risk-adjusted return than investors who previously invested in BBX Capital enjoyed. The reason, we believe,