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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (42338)	6/17/2011 1:40:34 AM
From: Spekulatius	Read Replies (1) of 78661

I did add 20% to my significant position in Itochu 8001.T tonight. It's a pretty cheap basic material (minerals, energy) and infrastructure play. I decided to average up because it looks very cheap - furthermore their plan is to increase the dividend substantially to 33Yen/share in 2002 - not bad for a stock trading at 780 Yen currently. itochu.co.jp This is a company that is still not the most efficiently managed but it's getting better and strong since i first looked at it in 2008. They were smart to buy mining assets (iron ore etc.) in 2008/2009 when they were available at attractive prices and used their ability to issue cheap debt in Japan at very low rates at a time when the credit market were frozen. Now instead of the 3 traditional legs (Steel/machinery/ food) they have 5 legs ( minerals/ energy), a more international business mix and much more earnings power.

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