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

To: Paul Senior who wrote (43716)	8/4/2011 11:04:00 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78648

I bought a starter in ADM at 28.25$, added some AHL 24.53$, more E at 39.43$ and a starter in STT at 38.53$. I did start position in 5018.T Moresco Corporation for a blended 793Yen. quote.tse.or.jp My underlying thesis regarding Moresco is that this outfit is in some ways similar to Lubrizol. For one thing it is a lubricant manufacturer and I believe the dynamics of their market have permanently changed for the better , which is one of the reasons Lubrizol got bought out by BRK. Moreco still trades at a pretty cheap valuation at about 7.5x trailing earnings. moresco.co.jp They also gave a presentation recently that showed good numbers and a fairly ambitious growth plan (I used google translater to understand what they are talking about (hope I did not miss too many details <g>. moresco.co.jp Overall the selloff in Japan seemed pretty controlled, so I only got a small fill today. I have a couple of lowball bids out for stuff I recently sold and would not mind to buy back at a low enough place.

To: Paul Senior who wrote (43716)	8/4/2011 11:22:14 PM
From: Difco	2 Recommendations Read Replies (1) \| Respond to of 78648

To all: Based on online.wsj.com, today was the most active day of 2011 - volume was up to 7.5 billion shares. If you look at the historic table on the left, August was never on the list of most actives. I ask myself whether this is a correction or freefall? After days like these I go back to the "Intelligent Investor" and the chapter "The Investor and Market Fluctuations". The following quote I found interesting:"Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop." IMO the market in the last few days went against this trend. Historically, the probability has been on the side of the market going up before the weekend and especially after sell offs, but none of us know whether this will be the case tomorrow. This brings me to the other quote from that same chapter: "Basically, price fluctuations have only one significant meaning for the true investor. They provide him with an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal." Good luck tomorrow. Chutzpah!

To: Paul Senior who wrote (43716)	8/5/2011 1:47:18 PM
From: E_K_S	Respond to of 78648

Re: TC Pipelines LP (TCLP) I really wanted to buy this one after you mentioned it. I can not believe it touched $40.01/share this morning. I missed an excellent value buy as they have little debt (for a pipeline company (LT Debt/Net Income 4.6x) generates a 7.5% dividend when priced at $40.00/share and has an excellent intra state distribution franchise for their pipeline. This and SEP should benefit from the explosive growth in NG from the recent US domestic shale development. I have a GTC order in and hopefully on the next dip down, I can pick up a few shares. My strategy has been to find some of these undervalued high yielding companies & Funds (TPZ, GOV & SEP as example) where I am trading in my fully valued preferred stock (MHR & FR) for these laggards. I can lock in close to the same distribution yields and get a huge upside potential. FWIW, I almost starting buying MDU below $20.00/share but am waiting for a few more days/weeks as I may be able to grab some shares below $19.00/share. I think Both the fall in Oil prices and the general market sell off is getting the weak hands to unload their otherwise pretty valuable Oil & NG E&P/pipeline companies. EKS