Okay, I'm going over somebody's notes now from the Value Investing Congress just ended.
I don't believe I could sit through two days given some of the presenters. Too painful to me to see how these guys invest -- how different they are from me and what they call value. Just like having to read posts from some people here. Ha!
Most of the stocks that were discussed hold no interest for me - the value's too hidden for me, the price-to-value (past performance, p/e) is too high, or I have no faith that I would know enough to hold on long enough to see the stock appreciate (or alternatively, enough faith to hold on if the stock fell).
That said, the only stock I found I saw and that I am buying now is CFW.to. (Am adding to losing position.)
"JANA Pushes For Agrium (AGU) Split" :
I have AGU -- haven't looked at it recently to see if I would want to add more shares though.
Mr. Einhorn is shorting Chipotle. Part of the reason is that there might be a competitor that provides similar food at similar quality at a cheaper price. I'm not interested in shorting CMG -- that point has passed for me. I might be interested in purchasing YUM, the firm that owns that competitor chain (Taco Bell) Mr. Einhorn mentioned. The Congress people apparently gave a Mr. Fusaro, a contest winner, a speaking opportunity, and his pick was Jack in the Box. Part of the reason he likes the stock is the possible spin-off by JACK of Chipotle competitor, Qdoba.
I find JACK to be very overvalued currently, and Qdoba not a good reason for holding on to JACK stock. That's jmo, of course. I would rather go with larger, more diverse, more expensive (higher p/e) YUM if any. Maybe even a paired trade - short JACK, buy Yum.
None of these fast-food companies is a value pick, imo.
GM was a stock recommended by Mr. Einhorn. GM's okay maybe. I still prefer VLKAY and F and TM, the parts suppliers, the auto retailers, and the finance companies. Esp. the finance companies. (Fwiw, BMW, which was mentioned here by a couple of people, I've not looked at recently.)
The other stocks mentioned that maybe might work for me: HAL, ROC, CI. A weaker maybe for LAYN, MCO. (I've no positions in any of these.)
Refer: marketfolly.com |
