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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (45893)	2/2/2012 6:27:05 PM
From: E_K_S	Read Replies (2) of 78495

AGL Resources, Inc. Common Stoc (GAS) -NYSE- peeled off higher shares (about 20%) w/ small gain Merck & Company, Inc. Common St (MRK) -NYSE - peeled off 15% of shares booked 26% gain Pfizer, Inc. Common Stock (PFE) -NYSE - peeled off 15% of shares booked 22% gain GMX Resources, Inc. 9.25% Seri (GMXR-P) -NYSE - Added to the preferred (prior to a very positive company report today) AGL is selling above it's GN but it's difficult to calculate after their recent merger. PE is at the high end so I sold my highest priced shares booking my gain. Will keep this one on my BUY list after I have a few quarters of the combined financials from the merger so I can evaluate the GN, PE and combined BV. MRK & PFE are selling near their 3 year highs. These are difficult to value based on a GN approach since both companies have a lot of intangible assets (primarily expiring patents and goodwill). MRK reported less revenues than expected and is probably the most overvalued of the two. Both companies pay solid dividends which are important to me but I think for now, to peel off 15% positions, I can allocate the proceeds to better capital gain plays. Took a speculative Buy yesterday in GMXRp since after the close their end of year report was due w/ a presentation today. Both the common stock and preferred shares were trading like there may be a liquidity issue or worse a BK. They issued the preferred (about $50M) and sold common shares last year to raise capital to buy more "oily" acreage and move their company from a NG based company to more Oil producing company. Based on their presentation today, ALL is still good. The common stock was up 64% and the preferred was up 53%. To listen to today's presentation: investorcalendar.com GMX Resources Inc. Provides an Operational Update and Guidance for 2012 finance.yahoo.com ------------------------------------------------------------------ As I learn more about these E&P companies, you can not write them off too fast. Both GMXR and RAM were in my looser categories selling below $1.00. Almost selling out my entire position(s), I remembered why I originally bought their shares; for their land assets. A very interesting day for GMXR to say the least. Common stock up 64% and the preferred GMSTp up 53%. EKS

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