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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (46609)	2/15/2012 8:54:21 PM
From: E_K_S	2 Recommendations Read Replies (1) of 78774

One of my first "conservative" investments as a teenager; I believe at the time met all the conditions from your book: Universal global appeal Instant name brand recognition Products or services you "dispassionately believe" will continue to be in demand "for years" The Answer: EASTMAN KODAK CO (Note: I sold it only holding only for a few years) Longest held investments: BHP Billiton Limited Common Sto (NYSE: BHP) A gift from my Father's estate. 4th largest holding in portfolio (5.5%) Purchased 12/11/90 Chevron Corporation Common Stoc (NYSE: CVX) My top holding adding shares from time to time (2003, 2004 & 2006). Represents almost 10% of the portfolio. One of my fist Long Term investments in early 1980's was Texaco. I believe it was selling around BV and paid a very good dividend at the time almost 5%. Texaco was merged w/ Chevron/Mobile. I added a few shares in 2003. Should have reinvested the dividends. Sempra Energy Common Stock (NYSE: SRE) A college graduation gift from my Father. Originally known as San Diego Gas & Electric. This one I just continued to hold beginning in the early 1980's. It always paid a good dividend. Sempra Energy was created through the 1998 merger of Los Angeles-based Pacific Enterprises, the parent company of Southern California Gas, and Enova Corporation, the parent company of San Diego Gas & Electric. I sold about 20% of the position over the years but the original gift in 1980 (after selling 20% of the shares) has increased 680% not counting dividends. Their biggest gains came from their NG pipeline subsidiary Sempra U.S. Gas & Power ( sempra.com ) which today is probably their most valuable asset. ------------------------------------------------------------------------------------------------- My best investments (and themes) came from my father which I continue today. I am not the eventual "Gold" Bug he became (he was loading up on gold and gold stocks when gold was $320/oz) but look to all the Natural Resource Companies for "Value". Many were Oil companies but others included both junior and major mining companies. His value investing criteria to me was (1) Buy stocks that sell for a 10 PE or less and (2) Look to companies that own hard assets (as a store of value). I believe both those suggestions still work today. EKS

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