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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (19691)	9/20/2004 5:56:54 PM
From: E_K_S	Read Replies (1) of 78714

Hi Paul Senior - Did you notice the $677 million offer for SJH (http://finance.yahoo.com/q?s=SJH) today. This is another oil tanker shipper. From the article:"...Stelmar, which operates 41 oil tankers, said the $38.55-a-share purchase price represents a 55 percent premium over the share closing price on May 14, the last trading day before tanker owner and operator OMI Corp. of Stamford, Conn., announced it was seeking to merge with Stelmar...." I bought more SFL today as they have a PE of around 5 where SJH's PE is now around 12. It's possible there may be other bidders for SJH's assets. SFL traded at a new all time high today on double than normal volume. SFL should be a $40 stock if valued similar to SJH. I think part of the reason for SFL's low price is that it is still an undiscovered stock. I have been trying to identify all the negatives (or hidden land mines) in the SFL balance sheet and have yet to discover anything significant. Have you in your due diligence uncovered any items for SFL that justify such a low stock price? SFL appears to be extremely undervalued even at today's all time high. EKS

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