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

To: Jurgis Bekepuris who wrote (33460)	2/6/2009 1:53:30 AM
From: Paul Senior	1 Recommendation Read Replies (1) \| Respond to of 78711

Yes, we agree on many of those. Basically for now I'm holding on to many losing positions. I am trying to contain myself and buy or add only the stocks I'm interested in when they are at/near 12-mo. lows. I have JNJ. So at current price, I'm a holder, not a buyer or seller. COP, I agree with your reasons, and for those reasons, I've sold down my full position to a small amount. NKE, COH I don't follow. I'm an adder to MMM if it hits new lows. Ditto PEP. GLW I am holding on, but not adding to. Still holding on to shale plays. Have reduced positions and eliminated some. I believe I still hold at least one stock in each of the various shales though. I still hold a bunch of Chinese stocks. Not sure what I will do with many of them. Have read Chinese unemployment now at 60M people. Have several of the real estate stocks (many recco. and held by Marty Whitman). Not sure what I will do with these. Yes, low pride:shame ratio for me with couple of the penny health-care stocks we may both be holding (CHME.ob, LTUS.ob). These stocks all a speculative portion of my portfolio. Very small commitment. Agree w/you on possibility of 2x-3x bagger possibilities exist here. Risk is there though too I suspect. I like (hold) CHL for cell phones. Less risk there imo. I'm intending to punch up JST position if stock keeps falling on no adverse news. My only add to China. --- My view is that it's inconsistent to charge DIS with both low roe and too many intangible assets. If intangibles are written off, I assume it'd be because those assets are not producing earnings. (If they did produce earnings why write off the assets). I'm not even aware that DIS has large non-performing intangible assets. If DIS book is over loaded with intangibles and those intangibles do blow up, I would assume the earnings essentially remain the same (Profits not coming from the intangibles that were written off.) So those earnings on a much reduced stated book value mean much higher roe.