On the numbers only NTAIF, ELAMF, and SFLX were my choices also. I did not buy ELAMF for the sole reason that they are based in Mexico, and I am not confident we will not see another run on their currency or political instability - although this reaction is probably more due to my ignorance than reality. Interesting that the Dallas Morning News today has an article on the fact that the peso could be vulnerable if the money traders target it like they have targeted some of the Asian currencies recently.
NTAIF had blow out numbers this last quarter - really rocked the market with the upside surprise - eps up 700% or something to $0.90 or something, even with the price jumping sells at a trailing PE of 10 if memory proves me correct. I would have bought, and would buy, but I found an article in the Asian press on how even these blowout numbers only approach what the company did several years ago - or something to that effect. Since they are based in Hong Kong, as I recall, I think they were moving into China - an unlimited market. But on the other hand, the company is really not followed here in the US that much - although if I recall there were 2 strong buys and 1 buy recommendation. The article went on to say that really the company had been mismanaged, and when it operates as it should it looks great like the last quarter (I guess some would say the same of SLFX).
I may revisit NTAIF, but I generally don't buy unless I'm real comfortable with the risk/reward ratio. I like Buffett's analogy that you have a punch card with 24 punches on it, and when you buy a stock one hole is punched. When you buy your 24th stock you're done. So I look for a few companies that I feel have a very good long term risk/reward ratio then swing for the fence. Otherwise I'd have already started a small position in both ELAMF and NTAIF. Instead I've swung for the fence with SFLX. Whether that is a mistake remains to be seen.
This is all from memory, so if I've misrepresented anything with regard to ELAMF or NTAIF let me know - it has been awhile since I did a real close look at them, and like you say they both look attractive.
Best - Joe |
