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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (16487)	2/23/2003 8:56:12 PM
From: Snowshoe	Respond to of 78659

starter position in NHY (Norsk hydro) While traveling recently I picked up the following book at the airport bookstore. Much to my surprise, it documents the founding of Norsk Hydro... The Northern Lights: The True Story of the Man Who Unlocked the Secrets of the Aurora Borealis by Lucy Jago amazon.com It's about a brilliant but slightly mad Norwegian scientist named Kristian Birkeland (1873-1917). As a way to finance his aurora research, he invented an electrical process for extracting nitrogen from the air to make fertilizer. He partnered with a powerful but greedy businessman named Sam Eyde, and the company they founded evolved into Norsk Hydro.

To: Spekulatius who wrote (16487)	3/7/2003 2:47:19 PM
From: Paul Senior	Read Replies (3) \| Respond to of 78659

re: NHY (Norsk hydro): Spekulatius, perhaps you may be understating the potential strength of the company's ancillary activities when you say, "Basically an oil stock with some Aluminum and Fertilizer business mixed in." They say they are "one of the three major global aluminium companies", and "the world’s largest supplier of mineral fertilizers and the only company with a strong (mineral fertilizer) presence in every part of the world." I'd say that historically there's not been too much volatility owning this stock, but book value keeps climbing, p/e is relatively low, and dividend is generally growing. Or, as you stated, "A very solid but unexciting company." I've stated my opinion that there are drawbacks that I see that I can't quantify or really understand to owning companies domiciled in China or Mexico: so I'll say the same about NHY, which I view as Norwegian company whose controlling stockholder is the Norwegian government. The government's priorities may not be congruent with those of small, foreign shareholders. Anyway, I agree with your analysis, Spekulatius, and I'm in for a starter amount too, as of today. (Not that my agreement should be construed as a validation of correctness. After all, I've been wrong many, many times!) Paul S. hydro.com