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

To: Spekulatius who wrote (50740)	2/1/2013 2:14:00 AM
From: Paul Senior	Read Replies (1) \| Respond to of 79248

Cyber warefare/defense: Fwiw, I hold a tracking position in MANT. Purchased at $32.72 with stock now at $24.67. Stock saw a precipitous drop last May, and that has scared me. I keep wavering about adding more shares at current price. I don't like the insider sales I see -- makes me uncomfortable, wondering how/if the company will sustain/grow sales or see another sharp slide in stock price. Company is profitable. Every year of past ten. P/e 9, 3.2% div yield, cash ~= ltd (per Yahoo). Low p/sales. Yahoo shows Third Avenue (Marty Whitman) is a substantial stockholder. If I do overcome my fears, I'll add a bit more shares with the intent to hold the position for another year or two. mantech.com

To: Spekulatius who wrote (50740)	2/1/2013 9:40:37 AM
From: Jurgis Bekepuris	Read Replies (1) \| Respond to of 79248

My concern is that defense spending just has to be cut. I don't think defense companies are trading at full realization of that reality. It's possible that the spending is not cut much. It's possible that defense companies will never trade super-cheaply. But I'd rather wait than invest into negative trend. I am not defense insider, so I cannot predict which companies will have less cuts vs others. There's a lot of speculation, but I doubt anyone really knows. Cyber defense is probably a good area. I'm not sure it's gonna be a huge chunk of large defense companies, so it's not clear if it's gonna be enough to replace the cuts and make for growth. Sorry for rather general observations. XLS and ATK seem cheapish, I'll relook at them, but with my rather negative slant I doubt I'll buy. :) I don't like LMT due to same concerns as you have. RTN is not very cheap for me.