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

To: E_K_S who wrote (49182)	8/21/2012 7:15:00 PM
From: Paul Senior	2 Recommendations Respond to of 78462

EKS, et. al., please do not discuss specific option actions on this thread. Although options may be used by value investors to reduce cost basis, enhance performance or hedge risks, this is a thread to find and discuss value stocks - the stock that people will or will not buy, not the specifics of any underlying options. Let's not dilute the purpose by incorporating here market timing or stock timing, as several other threads have done. Thanks, Paul Senior, moderator

To: E_K_S who wrote (49182)	9/12/2012 3:44:40 PM
From: E_K_S	Respond to of 78462

Ship Finance International Limited (SFL) - Closed out 90% of my long term position last $17.23/share (xdiv today) Sold 90% of my SFL that has been a top five position for me. Decided to book my gains from 2009 w/ an average cost around $10.50/share. Still hold a small stub position w/ shares that cost as low as $5.50/share. Decided that their leased fleet (primarily leased to FRO) are the older boats. I have not seen many new leases and Fredrickson was rumored to be looking at a new company that will have the newest boats with the new technology. SFL may or may not be the financing arm. If they get some of that financing, then I may re enter the position below $15.00/share. My sale is keeping in line with maintaining a portfolio turnover period of no more than 36 months ( 3 years). This current position was over a three year hold allowing me to book a 60% capital gain. Earlier years, I would maintain the position peeling off my high cost shares. SFL's fleet age is what concerns me holding long term. I am not sure the risk/reward and asset value is still there. FWIW S&P released their opinion on their large debt and raised their view a notch from D to C. SFL still is vulnerable to FRO's success and they could still impact SFL's future earnings if/when they write off more of their old ships. EKS