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

To: NikhilJog who wrote (2886)	4/9/2013 2:15:27 PM
From: Spekulatius	Read Replies (1) \| Respond to of 4719

I don't follow DELL much, I think this has played out as far as upside is concerned. A poster in another thread & board who is a hedge fund partner ( or at least well connected in the hedge fund business) owns some and think it is worth 23-24$. This is probably true but I don't like the business (Capex reductions are likely since E&P's have been outspending cash flow for quite some time) and HP is eating their lunch, because they have better rigs. NBR is trading below tangible book but I think a lot of their rigs are still mechanical and those are worth scrap value. Even their SCR rigs are probably not worth much. I think only 40% of NBR rigs are electrical versus 85% for HP. The recent news with respect to board seats suggests that something is cooking but I am not sure,the soup is ready before the bottom falls out( of the rig market). LOL