NTWK, GE, GR, AHC
NTWK good enough for me to take a small position and see what happens. the LT record does not look good but the recent numbers look good enough to did a small bet, IMO.
AHC - newspaper stock and cigar but. Recently spun off from Belo without debt. Revenues approx 600M$, 20M shares out @13$= 260M$ market cap. no debt. AHC owns some real estate in Dallas and s small ownership in some non-newspaper related websites cars.com etc.
GE, GR, solid industrial plays with good visibility. GR is strong aviation supplier that appears to be poised to grow in the double digits for a couple of years. Both profit from the low US$.
I am avoiding all US and British banks for now. Many more shoes to drop, IMO. We have now seen the first stage where there funny paper (CDO CDO^2, subprime) got hammered. Next come Alt-A and prime mortgages in states where RE get's hammered , which is pretty much everywhere in the US nowadays. these loans are not valued market- market so it's going to be a long drag. Commercial loans and leveraged buyouts are still sitting like lead on the balance sheet.
I am finding a liking in insurers, though. they may get hit in the fringes but at least they should/may not have systemic problems. I own SWCEY (20% discount to tangible book) and AIG and look to purchase some ALL if I get my price. |
