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Strategies & Market Trends : Value Investing
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To: Richard Barron who wrote (2951)1/7/1998 12:28:00 PM
From: Ron Bower  Read Replies (2) of 78744
 
Thread,

Reviewed Richard's list. If one were to take a position in everything mentioned, would likely have a good return. I can't keep track of that many and won't try. (How does he do it??) After running thru the list, I narrowed it down to two stocks and bought MEOHF this morning @7.50.

Canadian company that produces methanol for commercial purposes on an international scale. They have an easy to find homepage that's investor friendly and up to date. Earnings will be out the 28th.

Last reported BV was $6.62. It's slightly higher as they've been buying back shares and will buy back 10% of float. Highly liquid with $840M current assets against $152M current liabilities, $580M cash, about $350M long term debt. FFO has been very big and earnings reflect large depreciation and amortization.

Current reported earnings of .58 due to writeoffs last 4Q, but they've made .88 last 3Q and are projected to earn $1.07 for '97. This puts PE at 7. FFO/price much higher.

I presume price has dropped because it's a foreign stock (Canada?), due low oil prices, and international exposure but these things aren't likely to inhibit earnings and may improve them due to lower costs in international operations. They currently have 30% market share and steadily improving.

I would like others to review and look for a downside. It's very attractive to me if I didn't miss something. I'm not very familiar with the sector, but low-pollution fuels sounds good to me.

For what it's worth,
Ron
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