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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (43716)	8/4/2011 11:04:00 PM
From: Spekulatius	Read Replies (1) of 78652

I bought a starter in ADM at 28.25$, added some AHL 24.53$, more E at 39.43$ and a starter in STT at 38.53$. I did start position in 5018.T Moresco Corporation for a blended 793Yen. quote.tse.or.jp My underlying thesis regarding Moresco is that this outfit is in some ways similar to Lubrizol. For one thing it is a lubricant manufacturer and I believe the dynamics of their market have permanently changed for the better , which is one of the reasons Lubrizol got bought out by BRK. Moreco still trades at a pretty cheap valuation at about 7.5x trailing earnings. moresco.co.jp They also gave a presentation recently that showed good numbers and a fairly ambitious growth plan (I used google translater to understand what they are talking about (hope I did not miss too many details <g>. moresco.co.jp Overall the selloff in Japan seemed pretty controlled, so I only got a small fill today. I have a couple of lowball bids out for stuff I recently sold and would not mind to buy back at a low enough place.

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