BOC - This Mini-Berkshire Keeps Quietly Building Its Empire
2024-01-04 05:45:00 ET
Shares of Boston Omaha (NYSE: BOC) fell 40% in 2023, even as the S&P 500 Index (SNPINDEX: ^GSPC) climbed 23%. You might be tempted to think that Boston Omaha's underlying businesses had a terrible year -- except you'd be wrong.
On the contrary, the financial holding company and so-called mini- Berkshire Hathaway continued to quietly build its empire in 2023. And I think the market is drastically undervaluing the stock right now.
For one, consider that Boston Omaha's co-chief executive officers, Alex Rozek and Adam Peterson -- who are, in my opinion, two of the world's most talented capital allocators -- have deployed well over $500 million in capital since they took the helm in 2015. That's more than Boston Omaha's current entire market cap , which stands at only $488 million as of this writing. So the market seems to be assuming that the company's consolidated businesses and assets are worth less than Rozek and Peterson have effectively paid.
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This Mini-Berkshire Keeps Quietly Building Its Empire