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

To: Jurgis Bekepuris who wrote (42843)	6/29/2011 12:31:19 AM
From: Jurgis Bekepuris	Read Replies (4) \| Respond to of 78616

My top 10-ish positions in no particular order: NRF-A/B, UVIC, IDCC, UFPT, GILD, EGY, MHR-C/D, COPJF, DRAGF, MSFT, CSR. Changes in top-10: In: CSR - bought more New positions: RGA, RE, ENTR, GST-A Positions increased: AGXKF, CSR, UVIC, EGY, MHR-D, LDRXF Positions reduced: Positions eliminated: ARO, UEPS, DGX, PTI, CYOU, GAME, NE, E, FSR, DST Flip-flop: GFRE, PWRD, SDTH, CELM Time flies when you're having fun... or not. I just saw that a month passed since the last portfolio update. Oh, well. :) Fixed income. Added some MHR-D and established new position in GST-A. Nothing really exciting going on. Euro bank preferreds are not yet discounting serious trouble. Need to keep an eye on them. Chinese RTOs: Sold SDTH and CELM that finally were unhalted. Halts definitely hurt the longs who want to get out. Still, it was my decision to get in, so nothing to cry about. Flipped GFRE - no current position. Bought a bunch of CSR that has a going-private vote coming up. Obviously market does not believe in the buyout. I sold my positions in CYOU and GAME. Though both are not RTOs, both of them disclose that their corporate structure is not strictly legal vs Chinese laws. This may become an issue and I'd rather not get caught there. PWRD has the same disclosure, but I have not sold my position yet. (re)Insurance - added RGA and RE, both of which look like good long term holds. Sold FSR which looks a bit dicey. Energy - added more EGY and LDRXF. Sold NE and E - not overvalued, but I needed to make some cash. Overall sales were low-conviction holds cleaned up for cash: ARO, UEPS, DGX, PTI, DST (runup on takeover rumours). My cash position remains a bit low in high teens, but some pref holdings and positive non-investment cash flow may compensate for that. After investigating ENTR a bit, I decided to establish a starter position. Unfortunately with the runup I probably won't increase it.