Tower Properties

There's something interesting about high priced stocks.  They have a built in exclusivity, but they are also an oddity.  In a market where most stocks trade between $10 and $100 finding something for more than $10,000 a share is strange.  
A secret to value investing is to look where others aren't looking, and there aren't many people looking at high priced stocks.
In Issue 13 of the Oddball Stocks Newsletter we took a look at Tower Properties (TPRP), which at the time was $12,500 a share.  The stock has since traded up to $21,450 a share, a considerable return for subscribers.  Thankfully the thesis didn't rest on a single revaluation, but rather the cash generated from the properties and management's continual reinvestment.