Spekulatius, I've got a very good possibility for you (given that you are a person who can hold on to good stocks for a decent period of time, e.g. NSRGY). It's a European (continental), not British though.
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For British, BP has come down to where I started my exploratory position, and I'll likely be adding more. In past, a poorly-run company. Now, with new guy, maybe some changes. A p/e typical of the integrated oils (8-11 maybe). With this you get an okay dividend, and BP's expertise (leadership?) in lng. I'm also holding BP Prudhoue Bay in a retirement account. It's a royalty trust, which means for me, if it were in a regular account, I'd have to file K-1 tax forms, which I don't want to be involved with. In a retirement account, I don't have a problem, UNLESS I get income from this and others that totals over $1000/yr. So my BPT position is and will remain, small.
I have a few shares of UUPLY, primarily a regulated water utility in north England. It also has a non-regulated business that "provides connections and metering services to other businesses, and operates utility concessions in Bulgaria, Estonia, Poland, the Philippines and Australia."
finance.yahoo.com
unitedutilities.com
I have BCS on my watch list. Not sure what I will do. I like the relatively low stock price and high div. yield ---if it doesn't get cut, and Barclay's size. Their involvement or not with subprime, etc. is worrisome though.
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The European stock I'm liking now is Pargesa.
Several professional value investors(e.g. Jean-Marie Eveillard), and I have been buying Pargesa, PRGAF. It is a European company that takes large stakes in other big European companies and tries to influence their management.
pargesa.ch
Note the substantial companies in its portfolio: Total, Lafarge, Pernod, Suez:
pargesa.ch
PRGAF always seems to sell below the assets of their holdings. The positive is the asset/diversification aspect for the margin-of-safety with that. A negative is the gap to nav never seems to close enough, and can be very wide:
pargesa.ch
I contrast this stock with Dale Baker's 50% Gains thread pick of WNDLF. While WNDLF takes equity positions in industrial companies like Saint-Gobain (cf. PRGAF's Lafarge), WNDLF emphasizes its entrepreneurial bent - taking 100% of smaller companies (later selling them), and trying to influence larger companies by being their biggest shareholder. I believe WNDLF and PRGAF are each controlled by a wealthy familiy - in each case, it's their vehicle for investing their wealth.
There's also Dale Baker pick of 3i Group. It's British, and specializes in private equity. I don't follow it: I can't understand its prospects, businesses, financials, and I'm not set up to buy stocks directly on the London exchange.
Sorry I didn't buy WNDLF when first mentioned by Dale Baker years back; I have had an order in recently, although stock has not dropped to my price. WNDLF has been the better stock performer - almost tripling over the past four years vs. PRGAF not even doubling.
Perhaps PRGAF is a little more conservative. I like their holdings in large companies related to oil/gas, water, cement/construction, wines/liquors --- almost a concentrated mini-fund selling at below net assets. It's a stock that might be one that could be bought and put away for five years with some expectation that it'll do okay. That's my intent and expectation anyway. |
