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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (56845)	2/5/2016 5:49:33 PM
From: Spekulatius	Read Replies (1) of 78673

Bought some LMCA at the close for $33.0X. It's about where I sold it last year (I don't remember why I sold it then) and intrinsic value has increased (growth at SIRI and buybacks). On another note, why is PSX considered cheap and why is WEB buying it? PSX is trading around 10x earnings while peers going for 6x. I understand that PSX is of somewhat higher quality (due to expansion into petrochemical and the venture with Chevron), but that premium seems to high for me. I do think that MPC looks attractive here, they got one hell of a deal when they bought the BP refinery in Texas City for a song. MPCis cratering hard because of the MPLX guidance, but this starts to look overdone.

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