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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (23046)8/29/2006 1:07:52 AM
From: Paul Senior   of 78717
 
Three wrongs and one right make a right - in the stock market anyway... sometimes.

Gulf of Mexico oiler, EPL.

finance.yahoo.com

1. I failed to sell when stock near highs of 25, or when near all time highs in hurricane season (32) (pre Katrina).

2. I sold some shares for small loss after Katrina.

3. I failed to add to position after EPL announced discouraging post-Katrina results and stock drifted and sank to new lows.

OTOH. I kept most shares. (in those 4/04 @ $13.75; 10/04 $17.80)

I wrote: "As regards PQ and EPL, I hold shares of both. But because these stocks have not performed well - relatively, (and because EPL's been hurt by Katrina), I've been only holding PQ and selling some EPL... Of course, a value player could certainly argue that the price/value has improved for the companies because their stock prices are relatively low, and that the companies are real takeover candidates. It's certainly possible."

Today EPL received takeover bid @ $23-24.

I see according to the Wall Street Journal writing today about EPL:
"The Gulf has become a magnet in recent years for energy investment, particularly from foreign companies, as new discoveries have energized the region and the U.S.'s predictable tax and regulatory system have contrasted favorably with the changing fiscal regimes of foreign governments controlling promising fields elsewhere."
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