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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (21194)9/18/2009 9:38:20 AM
From: Spekulatius  Read Replies (3) of 78476
 
Bought some OSHC (6.9$) and SSBI (6.3$) - regional banks.
The OSHC position was acquired over time. OSHC has been discussed here before it's a demutualization play - they did their 1step in 2004 and management wanted to do the 2nd step in 2008/2009 which busted. Still it's a solid small little bank trading far below tangible book. Writeoffs are small (albeit growing) but so is their allowance for losses.

Balance sheet is very solid with a 9% tangible equity ratio (without the 2nd step shares being converted).

SSBI is a Dale Baker pick and hasn't moved much. 5* safety rating and they are local for me.
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