Silicon Investor (SI) -- The First Internet Community

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 : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (35689)	10/13/2009 11:55:40 AM
From: Paul Senior	Respond to of 78717

No, I'm not buying integrated oils, Madharry. Have sold them down, but now will likely hold the shares of the ones I still have. I keep adding to ATPG. At under $20/sh it still "should" be bought given net asset reported by management (>$100/sh (pretax)) in link I gave earlier, its progress in reducing debt, the fruition of its upcoming drilling prospects. To me, an obvious value buy if somebody is interested in the sector, and among my largest positions now. I'm confident about this low hanging fruit. On the other hand... sigh... there's no such thing as a stock that "should" be bought by anyone/everyone other than me; "obvious" may exist because I don't see that well and my dd on the stock and the sector is superficial; and so many, many other times in my investment life, whenever I've been confident about a stock and acquired a big position in it, I've ultimately lost money with it.

To: Madharry who wrote (35689)	10/13/2009 12:18:58 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78717

Starting a small position in insurer CNA Surety, [t]SUR[/t]. Profitable now and in 9 of past 10 years. In good years has traded >1.3x bv. P/bv now .9. I like its profit margins; its roe seems okay (hangs in around 13-14%) for what you pay for the stock. No dividend though. finance.yahoo.com

To: Madharry who wrote (35689)	10/13/2009 12:54:11 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78717

Starting a small position in insurance specialist, Enstar Group Ltd. ([t]ESGR[/t] (<span style='font-size:11px'>LAST</span>: 66.0<span style='font-size:11px'> 10/13/2009 12:45:45 PM</span>) ). These guys specialize in acquiring and managing the "run-off" business of insurance companies. finance.yahoo.com Only a public company since 2008, and they don't pay a dividend. I like that management emphasizes book value: "Our primary corporate objective is to grow our tangible net book value.We believe growth in our tangible net book value is driven primarily by growth in our net earnings, which is in turn partially driven by successfully completing new acquisitions." enstargroup.com Company seems to be growing rapidly: No dearth of "run-off" acquisition opportunities in this economy apparently. Barriers to entry in the business don't seem high though. Still, I expect ESGR's earnings and stock price to improve. Not so sure about ESGR's p/bv at 1.4. It might be high right now. I like that ESGR is hooked up with the J.C Flowers organization. Also a positive, I hope, is that respected investor Charles Akre owns shares and is on the bod. Maybe he'll have a positive influence on the company's investments. ============= Aside: From Googling, a couple articles about Charles Akre: fool.com wallstreetdiary.blogspot.com

To: Madharry who wrote (35689)	10/13/2009 1:45:23 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78717

OT: As an offset (if that is possible) to my purchase of WMT and my positions in sin stocks (mostly limited now to tobacco, booze, and gambling (and fast food?)), and for a stock in a company that apparently profitably helps people - and whose stock ownership by me might get me some points and the approval of my socially-aware/responsible wife - , I have begun buying a few shares of Res-Care. [t]RSCR[/t] (<span style='font-size:11px'>LAST</span>: 13.92<span style='font-size:11px'> 10/13/2009 1:35:12 PM</span>) ) rescare.com I've never heard of this company until recently, and surprising to me it's apparently fairly large: Yahoo says it has 46,000 employees. Trades at bv. Roe is not good. Company profitable each year of past ten. Book value has about doubled in past ten years. P/sales, p/bk relatively low. Not the greatest value out there, and I may not make much money with this stock, but I don't expect to lose much either. si.advfn.com^RSCR