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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (49396)	2/22/2013 6:27:56 PM
From: E_K_S	Read Replies (1) of 78476

Verizon Communications Inc. (NYSE: VZ) - reduced position by 33% Linn Co, LLC (LNCO) - peeled off 50% of high priced shares Magnum Hunter Resources Corp. (NYSE: MHR) - peeled off high priced shares for small gain Looking to raise a bit more cash, I decided to peel off a few of my VZ shares bought 12/18/2009 @ $30.71/share booking a 48% gain in just over 3 years. That works out as a 16% annualized capital gain and w/ a 5% dividend you get over a 20% annualized return. You pointed out their pension liability which is large and at a 16 PE it is no longer a value investment "hold". For me, since their dividend is now under 5% (currently 4.6%), I think I can get a better grower and similar dividend in other names. I may put the proceeds into more VOD. I also may direct these monies into INTC below $20.00/share and/or a MLP NG gatherers. Also from your previous post, I decided to reduce my LNCO exposure by 50% and sell my high priced shares acquired recently for a small profit. I like the general idea of reducing my E&P exposure and LNCO was a good candidate for the reasons you posted. I sold some high priced shares in MHR to book a small profit for the same reason. I do like the company but really want to own shares of their MLP NG gathering and processing facility they plan to spin off. I will use these proceeds to up my shares in that division if/when they do the spin off. ------------------------------------------------ Everybody is betting that we should sell in May and go away so maybe some value plays may present themselves if this occurs. I will be doing more portfolio selling and balancing my total holdings. I am seeing many of the material stocks getting back into value ranges. CNX, VALE & AAUK are three I may nibble at on any lower dips. I am still mostly in stocks but do have 8% cash and 17% cash like bonds/preferreds. Too much selling in my taxable account generates too many capital gains so I generally sell my high cost shares first as a rule and then find those I feel are fairly and/or over valued. It would be easier if everything was in an IRA. So my sell decision(s) are a bit more complicated. EKS

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