Yes, seems to me the number of buying opps. for value investors has diminished.
Some value-related exploratory positions I've taken recently include:
GET, NSK (Dale Baker pick), ICPT, and JAX. Also added to my position in SCR.A..
All sell below book value. GET has plenty of debt, but its 'country & western' franchise seems very strong still. (They've reported increasing revpar from their hotel operations.) NSK has little long term debt and is geographically diverse with its satellite communications. (It needs more customers though to utilize NSK's equipment/services.) JAX is a highly regarded (in taste tests and in service) small casual restaurant chain. (It needs to deliver more bottom line results. A very thinly traded stock.)
SCRA has been mentioned here many times over the past five or more years. If anyone bought in past years and held (like me), they've got a losing position. If they bought around Oct. last year or later, they are ahead. Debt is and has always been an issue. (Management competence too.) At this time they are managing debt by refinancing at attractive rates and reducing debt levels. Many SCR investors believe the totality of assets (esp. hotel chain, OEH, that SCR controls) is worth much more than SCR's stock prices (A+B shares). I added a bit to my SCRA position today.
About RKY, UIC: I'm still holding RKY and looking to add if it continues to drop to lows. Have an exploratory position in UIC, not planning on adding more.
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