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Strategies & Market Trends : Value Investing

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To: Grantcw who wrote (40722)	12/20/2010 3:06:24 PM
From: Paul Senior	Read Replies (2) of 78695

CNX. Yeah, not so easy a decison, imo. If you value the company on earnings, then yes, p/e is high-side at 107% of average p/e over the last five years. Seems to be one of these companies where market doesn't trust sustainability of earnings: when earnings are down, p/e's are up. And when earnings are up, market accords them lower p/e's. If you value the company on its assets though, then you might conclude the company is undervalued at current price. I look at it that way, and I'm holding on to my losing position. If the shares are sold, then where would the funds go? Iow, what are you seeing now as a better place for investment than CNX?

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