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Strategies & Market Trends : Value Investing

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To: E_K_S who wrote (45943)	12/13/2011 8:54:30 PM
From: Spekulatius	Read Replies (1) of 78742

re COV I have done this several times, starting to average in the stock in the low 40's, averaging out around 50$. The company has become more valuable over time, mid-high single digit growth, ~1.8B$ in FCF (before acquisitions), good balance sheet and a small 2% dividend. the company has improved their metrice, gross margins went from the low 50's to the high 50's % range, this is partly invested in R&D (Tyco was skimpy with R&D, so their products were stale when COV was spun off). I believe COV management is doing a good job executing to plan. It is imo a company that WEB may like. I may get this cheaper (based on charts) or I may not. I believe right now it's as good of a buy in terms of valuation as it has ever been. I am happy to buy more in the high 30's if it get there. I never get the cheapest price on this stock and never went out at the top, I always bought to early and sold to early, but I always made money holding COV.

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