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

To: Paul Senior who wrote (51958)	7/30/2013 1:37:22 PM
From: JSB	Respond to of 78748

FWIW I am as well. Many stocks hit new highs in the last few days and have dropped 6 to 8% since. Actually pretty ugly out there. More rotation I suspect since there is no news on any of them.

To: Paul Senior who wrote (51958)	7/30/2013 11:54:08 PM
From: Spekulatius	Respond to of 78748

Re BP - I added some BP @41.4$ today from proceeds of a partial TOT sale @53.1$. My rationale is BP's higher dividend yield (after taxation). I am also getting tired of TOT going nowhere. I have made money on TOt over the years, buying in the 40's and selling in the 50's. Right now, TOT trades at the upper end of it's trading band, so I just assume that I can buy this again cheaper perhaps. I added significantly to my Evonik (EVK.DE) position today at 25 Euro. This is a german chemistry company that was recently IPO'd at 32 Euro. It's a busted IPO basically and unloved for several reasons. For one thing, they missed earnings (down 7%) in their first public quarter and analyst seem not to like it because of share overhang from majority owner Ruhrkohle (they still own 67% and supposedly want to sell shares too). Still, management had improved the company quite a bit while being private and Evonik is now more profitable than many competitors like AKZO ir Solvay, yet trades at a lower valuation (10x earnings). They own a share in a real estate business that is being restructured into a partly private company, so the value will be more apparent. I think this is also essentially a spinoff situation where management is now moreincentivized than under the Ruhrkohle ownership and that should be good for shareholders. corporate.evonik.com