there always seems to be some type of value proposition out there
Then what to do after you've bought them, as I have? Buy more shares to increase position size? I don't know if I like doing that. Rather keep more cash at this time. NOV, GLW have been mentioned here before. I've just a few GLW shares, which seems now to be enough for me -- I don't know/understand enough about this company to be holding a full position. I'm adding to NOV when the stock falls -- at some point maybe acquire a full position. (Meanwhile also buying ESV as it drops and holding various size positions in about ten others in the oil services sector, e.g TESO, OIS, SCL.to, SDRL, SLB, QLTY.
I've passed on JOY: No patience to hold during the mining down cycle or idea when the cycle might turn. I chose DE over CAT for an initial tracking position. KKR -- I'm not confident it's a value stock at current price, or if earnings ( a lot from takeovers & associated fees) are predictable or sustainable; I'll pass on that one.
If your point is that stuff's available, I agree. And you may be right that the ones you mentioned fit. (Certainly on basis that p/e is less than 20). One way or another though they don't work for me now as I mention.
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With a challenged world economy especially in Spain, Italy & Greece. I am going to error on U.S. low leverage businesses until I can see that a recovery has gained traction.
A lot of these countries' stocks have come back. If I recall right, the board was talking about Coca-Cola Hellenic bottling hq'd in Greece when the company was about $17. It's about $29 now. Some Spanish banks too I see have gone up in value. (Maybe they'll all fall again if Europe hasn't resolved its problems sufficiently.) |
