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

To: Jurgis Bekepuris who wrote (47746)	5/4/2012 1:56:27 AM
From: Spekulatius	Respond to of 78954

re PMGLF - it seems that they only have ~22mmbls of crude on proved reserves, this cumulated production chart is highly misleading - what do I care about the crude they have already produced and that is gone? They need to hit paydirt soon, or the wells will run dry. They do seem to have a large land position, although in Bolivia you can't be quite sure what you own or not....

To: Jurgis Bekepuris who wrote (47746)	5/4/2012 10:02:21 AM
From: benbuffett	Read Replies (1) \| Respond to of 78954

Hi Jurgis, I too hold Biglari Holdings BH aka Steak n Shake. Have been in this the last 4 years. Been very pleased with the returns. On the other hand do not ever here kind words about him from the SNS managers. Many say he is a bit arrogant. However many of these guys do not seem to realize that the mother ship is a investment vehicle or holding co. I do not think the value is being realized in the stock currently. The Cracker Barrel CBRL holding is worth 225mil at current mkt prices. BH total mkt cap at 505mil. BB

To: Jurgis Bekepuris who wrote (47746)	6/4/2012 11:11:02 PM
From: Jurgis Bekepuris	Read Replies (3) \| Respond to of 78954

My top 10-ish positions in no particular order: UVIC, GLW, MSFT, PMGLF, MHR-C/D, DRAGF. Changes in top-10: out: GAME and GRVY drops in prices. New positions: FVLEF, GTAT Positions increased: PMGLF, BASFY, NOK, MHR-C, MGDDY, MAUXF, DELL, PWRD, TSCDY, FRFHF Positions reduced: SNDK, ADI, NICK Positions eliminated: ENI, LXU, CHL Flip-flop: GSOL With stock prices dropping, it's not surprising that I have bought so much. It's more surprising that I did not sell before (haha) and that I sold now. Mostly it's sells of low conviction positions that did not crash a lot (ENI, CHL, SNDK, ADI, NICK). I sold LXU, since I believe that their explosion, shutdown and repairs will take longer and lose more business than market expects. I may reenter some of these positions lower. Or not. None of them are very strong belief positions. I flip-flopped GSOL similarly - not a big conviction. All the position increases are price-drop driven. New positions are exploratory: GTAT was mentioned by Shane, FVLEF by Clownbuck. Stocks are quite cheap, but macro events could make them even cheaper. Or not. Stay sober or drink and drive. Both might be fun. :)