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

To: Spekulatius who wrote (51894)	7/16/2013 1:16:01 AM
From: Robohogs	Respond to of 78751

Two things to highlight: 1. HK accounting allows/actually forces mark to mkt on assets meaning no hidden values on balance sheets a la JCP or KMart. In fact, some firms quite aggressive. And HK property, while likely to stay higher than we believe, is somehat bubblicious. 2. The company hairct bondholders a few years back so some suspicions. A friend of my wife who s a private banke/broker likes it but I agree - nothing special. Jon

To: Spekulatius who wrote (51894)	7/18/2013 9:36:25 PM
From: Spekulatius	Read Replies (2) \| Respond to of 78751

A couple of buys and sells: COLE @10.76$, a new listed REIT that has an odd lot tender offer outstanding. Shares trading below 11$ and the tender is for 12.25-13$. I bought 99 shares in two accounts and tendered them.( Easy to do online with Interactive brokers). EVK.DE @25.42Euro. German special chemical company, recently IPO'd at 31 Euro. Einhorn bought in at ~29 Euro (another busted Einhorn long). Good balance sheet and they own some real estate that is going to be liquidated and partly brought in a listed holding. Worth 650MEuro or the amount of the amount of Evoniks debt. Some pension issues. This is a good business but they missed earnings and hence shares have been trading down. There is also concern about more shares hitting the market, because the owner (Ruhrkohle AG) has only listed 15% of their shares. This used to be Degussa company and it s good business. The chemical business can be volatile but I think the LT prospects for most of their business lines are good. I'd love to buy more below 25 Euro. TOT, partial sale at 52$. Sells mostly in my IRA account because the 30% (used to 25% ) dividend tax makes holding a dividend stock less attractive. BAP (largest Peru bank) at 115.66$, appears cheap given the growth prospects. This is a starter position. NWLI @218.5$, sold out remaining position