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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (44082)	10/6/2011 4:19:36 PM
From: E_K_S	Read Replies (3) of 78691

Hi Paul - Seaboard Corp. (SEB) Started a position in SEB. The Forbes article that Jurgis posted earlier today ( forbes.com ) had SEB as a Buy. This is one I wanted to own and looking at the recent price activity seemed like a good entry point if I could get it below $1,700.00. I put an order in today and was surprised to see I got my five shares at $1,695.00/share. I expect Thanks Giving should provide some good sales for their Butterball subsidiary. SEB recently bought the Butterball turkey brand. The article goes onto discuss Professor's Greebwald's views on the company: "...It's assets (SEB) include flour mills, container ships and pigsties. What little press the company gets relates to unpleasant topics like sweatshops. It is hard to imagine the chairman wowing an audience with a demo of a new poultry line. Bruce Greenwald, value maven and professor at Columbia Business School, instinctively prefers Company B (SEB). Glamour stocks, he says, are overpriced (AAPL). Stocks with unpleasant aromas are underpriced. You'll do better over time owning the latter. The Butterball firm is more obscure: Seaboard Corp. ( SEB - news - people ) Why does it attract Greenwald? Because it sits on a rising mountain of cash and liquid securities, because its operating assets--the pigpens and the like--would be expensive to replicate and because those assets generate good returns in comparison with Seaboard's stock market value. <snip> Greenwald, 65, came to value investing somewhat late in life. He got his Ph.D. in economics at MIT at a time when academic dogma decreed that the stock market is completely efficient and therefore unbeatable...". ------------------------------------------------------------------------ Their most recent earnings report is here: prnewswire.com As reported on their WEB site: seaboardcorp.com ----------------------------------------------------------------------------------- According to my StreetSmart Edge Research module: SEB's PE 5.48 Earnings $307.11/share 5yrs sales growth: 10.3% Annual Sales Growth (yoy): 33.5% Price/Sales: 0.40 Price/Book: 1.03 BV: $1,649.00 ROA: 14% ROE: 20.04% ROI: 17.5% Gross Margin: 9.3% -------------------------------------------------------------------- SEB mentioned in this Seeking Alpha article. Ben Graham's Assistant's 19 Bullish Stock Picks seekingalpha.com Company's discussed in the article (includes SEB): finance.yahoo.com This one goes into the AG basket. EKS

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