...FUN units have actually traded for more than double their current price at some point in each of the past twelve calendar years. Unless you believe the company will not survive the current recession these units look like compelling value. Value line sees FUN’s financial strength as an adequate ‘B+’. proceeds from a recently announced sale of excess undeveloped Canadian land for $50 million have been earmarked for debt reduction and cash flow appears steady.

A return to even thirteen times 2009 – 2010 projections would make for a 12 – 18 month target price range of $16 - $19. Value Line is using a 15 multiple and per unit earnings of $2.50 in calculating their 3 – 5 year projections for a rebound to $30 - $45.

FUN looks like a winner for outstanding total return for investors with a medium to long-term time horizon....

http://seekingalpha.com/article/155216-ced...y-by-having-fun

I agree that debt appears steady. The cash will be flowing into it for the next 100 years.

It makes sense when you read the part at the bottom that says Disclosure: Author is long FUN units.

I like Value and there are some great values to be had in the leissure industry. Should be interesting to see what happens in the next 3-5 years atleast that is my horrizon.