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

To: Jurgis Bekepuris who wrote (32782)	11/14/2008 6:06:28 PM
From: E_K_S	Read Replies (1) \| Respond to of 78656

HI Jurgis- In March 2008 Buffet reported 17.5 million shares of COP in his SEC filing. Today's report shows he now holds 84 million shares for a net increase of 66.5 million shares. He is probably in at an average cost of between $55/share - $60/share which is equivalent to about $3.7 Billion new money invested. He invested $5 Billion each in GS and GE so his COP position appears to be about the same dollar exposure. It's interesting that he has not added any new money to his drug stocks. I wonder with an Obama administration (and Buffet as one of the many economic advisors) if we will see some new buys by Buffet that reflect the new administration policy in action. Eaton Corp may be a small play on infrastructure development but I suspect other new Buffet buys will piggyback on new proposed Obama legislation. The one takeaway from the COP buys is Buffet does not seem to be too concerned about any future windfall profit tax on domestic US oil companies. EKS

To: Jurgis Bekepuris who wrote (32782)	11/16/2008 11:23:56 AM
From: Jurgis Bekepuris	Read Replies (2) \| Respond to of 78656

ETN - I took a look at it and there's not much to like. ROE has gone up in recent years, but ROIC is still below 15%. Net margins below 10%. Debt/equity about 50%. Net tangible assets - negative. Although this is not perhaps a big issue normally, but it may lead to problems in current economic crunch if/when ETN needs to refinance their debt and/or get more financing. I did not dig very deeply into ETN's numbers, so I may be missing something. But so far, I am not attracted to buy.