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

To: Spekulatius who wrote (41755)	3/15/2011 2:38:29 AM
From: Sea Otter	Respond to of 78534

... extreme concern that the authorities were close to losing control nytimes.com Unbelievable.

To: Spekulatius who wrote (41755)	3/15/2011 6:24:32 AM
From: DinoNavarre	Respond to of 78534

Good Morning Spekulatius, would you have any opinion on Kobe Steel KBSTY.PK/5406 ??? I bought a small amount last July and am thinking about adding some more, hopefully under $11.00 bloomberg.com google.com google.com kobelco.co.jp

To: Spekulatius who wrote (41755)	3/15/2011 9:45:05 AM
From: Madharry	Read Replies (2) \| Respond to of 78534

i can see why price would going down in japan stock market. i dont understand why people are selling off gold and silver and palladium or us companies that stand to benefit from all the rebuilding that will take place as governments inflate to pay for it all. I mightt be completely wrong but this selloff doesnt make sense to me.

To: Spekulatius who wrote (41755)	3/15/2011 12:49:38 PM
From: Paul Senior	Read Replies (2) \| Respond to of 78534

Still considering what I will do regarding buying Japanese stocks. Japanese producers are being hurt by interruptions in electricity. So we have auto and tech plants closing, as well as for example, problems with beverage production (looking at Kirin). Plant closures in Japan may give a temporary boost to Korea who may be able to offer competing products to world demand. I'm upping my EWY shares here a little. I'll pass on Toyota (TM) for now, but will continue to up my exposure to USA auto retailers, and I continue to make small adds to positions. I'm also adding today to oil stocks, and to a lesser extent bond funds and reits (GOV).

To: Spekulatius who wrote (41755)	3/15/2011 3:55:16 PM
From: Jurgis Bekepuris	Respond to of 78534

Except for Itochu ITOCY, the companies you mentioned are pretty much not buyable on USA markets. Sumitomo Rubber SMTUF theoretically trades, but in reality I see five trades over last 3 years??? Probably I could buy them in Japan through Fido like you did, but IMHO it's too much trouble. Maybe I'll dig a bit more to see if I am even interested to buy. ;) I took a look at Itochu and I'll pass. Too complicated for me to delve into. Maybe I should just buy Third Avenue fund or EWJ ... Waiting for more downside on EWJ although this may not happen.

To: Spekulatius who wrote (41755)	3/17/2011 2:39:55 AM
From: Spekulatius	Read Replies (2) \| Respond to of 78534

re 2501.T Sapporo Holdings. It is in fact a 3rd Ave Value discard. They initiated a position in Y2007 and according to this chart, they paid at least 600Yen/share. I paid 258Yen and it's now going for ~290Yen/share. see P9: thirdavenuefunds.com 3rd Avwe value proposition was about the real estate, which brings in ~1/2 the operating earnings and was supposedly not reflected in the stock price. marketwatch.com Ironically Sapporo's operating earnings and RE revenues have increased since then (beer is recession resistant after all), yet the stock goes for less than 1/2 what a supposedly smart value investor paid. This is just to demonstrate some of the carnage that occurred in Japan with some small caps. I am not claiming that Japan's ordeal is over and I have no idea what is going to happen with those damn reactors but frothy prices we pay not right now!

To: Spekulatius who wrote (41755)	3/30/2011 8:42:43 PM
From: Spekulatius	Read Replies (2) \| Respond to of 78534

Japanese stocks - 5110.T Sumitomo Rubber. Sold 1/2 my position at 866Yen yesterday. I am using the proceeds to purchase shares in a Japanese microcap that appears to be a net net- trading at 1/2 tangible book. I will disclose this stock later, trading volume is very small in this cockroach.

To: Spekulatius who wrote (41755)	3/24/2014 1:07:01 AM
From: Spekulatius	1 Recommendation Recommended By Jurgis Bekepuris Respond to of 78534

Sumitomo Rubber 5110.T @1274 ¥. This is a Japanese Tire manufacturer, selling under the Falken and Dunlop brand. It's trading around book and 7.5x earnings (~170¥/share). Based on what I see, this is one of the better managed Japanese companies. I used to own this in the 900¥ range in 2011, but the Yen was ~25% higher than. In a way, the stock is cheaper now than in was back then. Earnings have benefited from auto industry recovery and the lower Yen quite a bit. srigroup.co.jp The biggest knock on this stock is that FCF is fairly week, the fairly decent cash flow is accompanied by heavy Capex due to capacity expansion expenses. Still, their financial metrics have improved quite a bit and they also have raised the dividend quite a bit. I think it is one if the cheapest stocks in their respective business.