Fundamental Value Investing Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Fundamental Value Investing

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

Recommended by:

Jurgis Bekepuris

To: The Ox who wrote (3624)	4/20/2014 12:50:19 PM
From: Spekulatius	1 Recommendation of 4719

Just for the sake of disclosure, I did sell MUSA. After reading their 10k, I am not convinced that the spinoff dynamics can overcome the mediocre business dynamics. Also, a lot of the earning beat was due to RIN sales windfall, which is unlikely to repeat itself. The core retail business did not look that great. I made a small profit during the short time I owned it, so I did OK. CHMT sold their AG business for 1B$ or 10x EBITDA and the stock is down. Maybe the market suspected a better price? I note that CHMT was trading at 10x EV/EBITDA before, so selling their best performing business for the same price than the remaining lesser business are trading at, is not going to help them much. Might be interesting to watch the buyer - PAH, which is run by supposedly pretty smart folks (there is a thread in CornerofberkshireandFairfax about the stock).

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next