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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (15462)9/14/2002 2:01:24 PM
From: Joan Osland Graffius  Read Replies (1) of 78845
 
Paul,

I have only bought 2 US based stocks during the last year. I bought MRK and sold covered calls. Also bought some out of the money crash puts and took profits on them during the July sell off as these covered my loss plus a little more on the value in the stock as it marched south. MRK has debt, but the debt is still rated AAA. I was able to do a set up on the stock with the covered call and dividends of 10% per year which I can live with in this market.

I did buy some SFD as a speculation. I do not like the debt they are carrying. The reason I bought them is there are a ton of co-ops that are insolvent and they are picking them up for 10 cents on the dollar. One other stock in the food business is MWGP - they will have to figure out how to complete with EU products entering our shores - but there was a blow up at one of their plants on Friday and this could be an opportunity. The US government is giving companies in this industry grants for research, marketing, etc. to complete with the EU dumping and if the US dollar goes where I think it is going - down - this could be a good investment.

Right now I am watching foreign stocks in the basic materials business. I bought AAUK and am close to buying a second third position. I am watching SASOY, IMPAY, and AAPTS for entries. Some other companies I am doing research on at the moment are: BHP, WMC, RTP and CEO. If we get a sell off in the oil stocks I will be a buyer. I will not buy unless these stocks are cheap - real cheap, as I am looking for 1998 price levels for entry points.

Joan
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