Frans has made a new company report on IH after Q1. 
Investors House’s Q1 result grew strongly operationally but fell short of our expectations. This was due to a heavier-than-expected property tax burden and weak profitability in the service business. We made small downward forecast revisions for both segments. In our opinion, the expected return, relying on dividend yield (6-7%), is clearly positive, but we believe the company’s valuation (Q1’25 P/B 0.89x) is at a fair level, which is why we are still waiting for a better opportunity for further purchases.