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Strategies & Market Trends : Fundamental Value Investing

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To: bruwin who wrote (2820)	2/27/2013 2:09:04 AM
From: Spekulatius	1 Recommendation Read Replies (1) of 4719

Bruwin, thanks for the report on AAUKY. I initially thought more about a scuttlebutt sort of assessment of Anglo Americans prowess as the SA public sees it. I agree that AAUKY has been badly managed, ironically, they did fairly well during the economic downturn, but screwed up during the economic recovery when commodities were going gangbusters! I think a new CEO could make a world if difference for AAUKY, they have incredible diversified operations and a still strong base in SA (I think). The earnings were screwed up by big project writeoffs (that iron ore project in brazil cost them 4B$ alone, I think), but even in during the last not particular great year, they earned ~2.2$ from operations/share, not bad for. 14.5$ stock. Own some at lower prices and I think I'd add more if it goes to 13$ again.

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