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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (43060)	8/24/2011 6:08:44 AM
From: Spekulatius	Read Replies (1) of 78748

I decided to go for another Japanese micro cap - 5988.T Piolax. they produce fasteners, mostly for automotive. They seem to have a very international business, despite their small size. EPS~220 yen and the shares are at 1590 yen. I bought today at 1650 yen<grrr>. balance sheet is 80% equity and P/B is 0.45. Looks like a value trap but we will see. This stock trades close to 2009 lows, despite putting in decent numbers. And since more than 1/2 the balance sheet consist of liquid asset (cash, receivables and inventory) it's a net - net or close. moneycentral.msn.com

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