In France, Vivendi has interests in telecom, pay-TV, the Internet, and media. At 65 Euros per share the stock is attractive on a sum of the parts analysis which values the company at over 90 Euros. When the price of a stock rises, there is no limit to how high the price of the convertible can go. Although such convertibles have lost all of their downside protection, their higher yield may still offer an attractive alternative to the stock. Our Approach At Gabelli, we have been managing convertible portfolios for over 20 years.
Convertible securities provide a natural overlay for value investors.
With converts you earn current income while you wait for a catalyst to unlock hidden value. Convertible investing is a win, win proposition. All rights reserved - Privacy Policy .