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Strategies & Market Trends : Value Investing

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From: E_K_S	10/22/2006 7:49:38 PM
	Read Replies (2) of 78748

Sold 1/3 of my Comcast holdings (CMCSA) to lock in a 30% return from their recent low that started in January 2006. I plan to hold onto the funds and reinvest a portion of the proceeds into VZ or CMCSA on any significant pull back. I continue to hold my BLS and T shares which provide good exposure to this sector along with my reaming CMCSA shares. I consider the value proposition for many of these stocks in this sector to now be fairly valued. Bought another 1/3 position in WON (Westwood One) at $7.50/share using naked Oct $7.50 Put options. I have 80% of my position purchased and have also completed my tax loss selling for shares purchased in the $9-$10 range earlier this year. This is my 2007 special value situation stock that I believe could be a 3x-4x bagger if one is patient. I am considering a starter position in TCLP (TC Pipelines LP) as the company announced a raise in their distribution to $2.40/year (7.4% yield). I expect continued moderate growth in their natural gas distribution system. Finally, I nibbled at a few more shares of NYB (New York Community Bancorp Inc.) by selling the January 2007 $17.50 Puts. I have been selling the $17.50 covered calls for some time as management works its way through the flat yield curve. Next week, earnings will be announced that reflect the consolidation from their most recent acquisition. There is a value proposition to be had if management can begin to build BK value. I expect NYB to be a buyout candidate after two or three quarters of positive earnings growth. Disclosure - I own or am accumulating shares in all of these companies and may be wrong in my analysis of "value". As discussed on this thread, there many different views on how to evaluate regional banks and mine is just one of many. EKS

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