Here is another recent one, that effects how rich the world thinks chile is.
Concha y torro, the vineyard. Traded on the new york stock exchange since like 1994, and only just this month cancelled their listing in the states. Market value officially of 1.1 billion dollars.
I was not all that interested in their stock. It is a wine company, and not even my favorite wine. I really dismissed them as an investment target.
Then it was brought to my attention that they were reporting their average value of their property in chile at like $3000 u.s. per hector, and they own thousands of hectors of the most prime agroculture property in the world, and water rights to go with it.
I thought to myself, 'there is no way their land is worth just $3000 a hector'.
Especially because they hold agro land in the middle of santiago and other major metro areas in chile. It is not rural property anymore. Some of it is worth more than $3000 u.s., per METER.
I pulled their reports, did some googling on their property holdings, and some back of the napkin calculations, and came up with assets easily worth north of $10 billion u.s. in real estate holdings alone. Burn the vines, and liquidate the property at auction, and the company is worth 10 billion. Never mind the rest of the buisness, which in like 135 countries, etc, etc.
In fact, i think it is part of the reason they withdrew from the new york stock exchange. Shareholders were starting to ask questions about it, and i suspect it was starting to cause legal problems in the states with the regulators.
O.k., so that was a long way to making the point that company is just one example of value in chile used to say calculate things like the total value of chilean stock market by internatonal investors, credit rating agencies, IMF, oecd, etc, etc.
You could run through a lot of the companies in chile, both public and private, and find way more examples. The frigen military, the cabinerios de chile, and other goverment agencies own billions of dollars in real estate too, including things you would not expect a military to own, like hotels. Things that are never reported in those oecd numbers.
Bottom line, chile is way way under valued by the world, on sooooo many diffrent levels.
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