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Strategies & Market Trends : Value Investing
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To: LTBH who wrote (52829)11/22/2013 3:48:21 PM
From: E_K_S  Read Replies (1) of 78659
 
CVR Partners, LP (UAN) -NYSE - started a small buy @ $17.26/share at/near 52wk low.

Started a small position in UAN. I am not worried about Ichan and the parent company CVR Energy, Inc. (CVI) impacting UAN much. Perhaps they dump some of the shares of UAN they may hold but their refining operations adjacent to the UAN facility needs UAN to process their "pet-coke".

Long term, I think "pet-coke" is/will be a disposal problem for the refiners (especially those that process the Canadian Sands Oil). Owning UAN, I can stay tuned to "pet-coke" industry issues and if UAN has or will have any dealing to build and/or consult on new facilities (perhaps on a royalty or licensing arrangement) as they have the technology that works and is cost effective in the current market.

It could be a real game changer if the EPA starts to fine the "pet-coke" producers. There is now an incentive for these refiners to partner with a company like UAN to build similar facilities that use "pet-coke" as it's primary feed stock.

So for me, the value proposition is in their technology. I may add on any 3% drop (or more) from current levels. My buy today only represents 0.27% portfolio interest which I may increase to a 2% portfolio position if I find their process is the current state-of-the-art solution to the disposal of "pet-coke".

EKS
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