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

To: Jurgis Bekepuris who wrote (43122)	7/3/2011 4:09:24 PM
From: Madharry	Respond to of 78613

fwiw my largest positions are ibm osg ttt slw axu aab.to mpw cown goog gfre als.to pvr cmp.un.to in no particular order. these are pretty much all long term plays for me.

To: Jurgis Bekepuris who wrote (43122)	7/5/2011 11:18:53 PM
From: Shane M	Read Replies (1) \| Respond to of 78613

Jurgis, nice trade on DST if you hit it on the day of announcement of interest of buyers but before they said they weren't interested in a buyer... I couldn't bring myself to sell. It was a situation I hadn't rehearsed so I wasn't sure what to do

To: Jurgis Bekepuris who wrote (43122)	8/4/2011 12:21:43 AM
From: Jurgis Bekepuris	Read Replies (3) \| Respond to of 78613

My top 10-ish positions in no particular order: NRF-A/B, UVIC, IDCC, EGY, UFPT, GILD, MHR-C/D, CSR, COPJF, DRAGF, GST-A, MSFT. Changes in top-10: In: GST-A - bought more New positions: None Positions increased: GLW, GST-A, RE, ENTR, RGA Positions reduced: CSR, IDCC, MHR-C, UFPT, COPJF Positions eliminated: TPCS, GPS, IACAF, RIMM, TRH, PBEGF, FRX Flip-flop: None Another summer month, another market meltdown. Or maybe it just seems like it. ;) Fixed income: I sold remaining MHR-C, keeping just MHR-D. Added to GST-A. While waiting for debt ceiling resolution, I sold marginal / low conviction positions in GPS, IACAF, RIMM, TRH, PBEGF, FRX. None of these stocks are expensive, but I am not sure if I will buy the positions back. I also trimmed UFPT and COPJF at the same time and with the same motive. I may rebuy shares in UFPT after good Q2 results. I sold TPCS, since it does not seem cheap at fully diluted basis. Two stocks came through this year: IDCC ran up on Nortel patent portfolio pricing and takeover speculation. I sold a substantial part of the shares. The stock is overvalued based on earnings, but may end up acquired at higher price. CSR - a Chinese RTO going private play - so far is going private and the arbitrage margin has decreased to $.60-.70 per share. I sold a substantial part of the shares and may sell remainder soon. As market was dropping, I added to GLW, RE, ENTR and RGA. I may add to other positions if market continues downward trajectory.

To: Jurgis Bekepuris who wrote (43122)	12/8/2013 1:09:14 PM
From: E_K_S	1 Recommendation Recommended By David Read Replies (1) \| Respond to of 78613

Re: Net 1 Ueps Technologies Inc. (UEPS) - $8.01 0.00 (0.00%) Dec 6, 4:00PM EST Link to Web site: I noticed you eliminated this position. I have been looking at it for a small value buy. For others not familiar w/ the company here is an overview: UEPS provides payment solutions and transaction processing services for various industries in South Africa, Korea, Europe, and internationally. It offers universal electronic payment system (UEPS), a smart-card based alternative payment system for the unbanked and underbanked populations of developing economies. According to Yahoo Finance, their financials look pretty good. BV is at $7.89/share ( a lot of this is intangible intellectual assets). Their debt profile is very good w/ 4.8x Net Income = LT debt. Forward PE is 5.8x as long as they maintain South African SSN contract. They are growing revenues by 34% and EPS by even more (Revenue and Fundamental EPS of $123 million and $0.37, a constant currency increase of 34% and 77%, respectively). Net 1 UEPS crashed 29% after the South African Constitutional Court set aside an appeals-court decision and declared that the process by which the payment-services company got a contract with the South African Social Security Agency was invalid on a constitutional basis. The ruling is a huge setback for Net 1 UEPS, but it's not fatal, as the court will have a hearing in February to determine what it calls a "just and equitable remedy" concerning the situation. It seems like their business model is sound and profitable and there could be a reversal to the decision in February regarding their South African contract. -------------------------------------------------------------------------- Link to 2013 presentation: From their February 2013 presentation: Leading provider of alternate payment systems in emerging, cash-based economies with significant unbanked or under-banked populations Over 25 million cardholders across more than 10 countries Leading transaction processor in South Africa, Korea, Ghana and Iraq • United States: MetroPCS launched Fiscal 2011 • Mexico: Banamex expected launch in Spring 2012 -------------------------------------------------------------------------------- They do have one customer (South Africa Gov) that accounts for 45% of their revenues. However, slowly other regions/customers are growing as a percentage of their total revenues. The other value proposition that could benefit earnings going forward are a possible reduction of currency exchange losses due to the strong U.S. dollar. If/when the FED begins to taper and eventually rates increase, the $US should get weaker (relative to the other currencies they use) reducing the losses that UEPS has booked the last few quarters. I am considering a small speculative buy especially w/ the recent sell off due to the pending court litigation. Any other Pros and/or Cons to consider? EKS