To: refugee investor who wrote (1325 ) 9/28/2013 1:29:48 PM From: Italian Investor Respond to Black Earth Russia! Grant pointed out how cheap russian energy companies are there is an etf I was looking @ that has a P/E multiple below 5. Jimmy Rogers has been recently been buying Russia so I guess Russia is worth a look, but it is tough to pull the trigger. I was looking more @ the sell off in India they have an ETF with a P/E of 6 I think it is SCIF, but I saw it when it was 10% cheaper and did not pull the trigger. Prem is a great investor and my guess why he likes blackberry is because he is a deep value investor and it is selling for roughly half book and has a good portion of the share price in cash. They have I read the most secure phone on the planet and the patents for this must be worth some change and I am sure they have many other patents and assets worth something. There devices are still pretty popular outside of the USA. They are scaling down so they still can be a small player I am guessing for many years going forward generating some cash flow kind of like the pager companies USAM and UCOM. I don’t see how he losses much on this if Blackberry slowly fades away but he will make a killing if it survives. I don’t think his 9 dollar offer gets done it will be higher IMO by someone else. I honestly don’t see much risk but I would never do the deal because it is not my strong spot. I prefer a resource company trading @ half book and there are so many very cheap ones out there today. I am up 14% for the year now and Buffet would not be happy because it is all due to trading! Just about every name I owned this year if I held them from the beginning of the year until now would be down accept maybe Fairfax, but I am up 14% with roughly 50-60% in cash which is hard to believe but true. I have been pretty much selling the pops and buying the dips all year long and most recently started shorting the Russell 2000 again which I am down 4% (I never learn), but I honestly don’t feel comfortable without shorting I am not 1 to 1 but I been roughly 2 to 1 for the past month or so on the long side as I got a little more aggressive with some energy names. Speaking of agriculture and fertilizers Sprott Resources is a strange company which is up about 10% off its lows they have 20% or so of their assets in agriculture which you get for free. Very interesting company especially if you ever feel like reading up on their privately held companies especially One Earth oil/gas and One Earth Farms which can be pretty big if they get along with there partners a very unique partnership you will see if you do some HW. There relationship is a little bit rocky right now I heard with One Earth Farms but I guess that is to be expected. Right now they have about 8 or 9 investments but are only being valued right now for basically 1 of there energy investments long Run and their gold so you get a lot for free. So, if you can get around there 2 and 20 structure, margin account, and there bone head dividend decision it might be a worthy investment because these are the reason why it sells below book. Slap a value on each of there publicly traded companies, privately held, cash, gold and then minus out the debt and you will come up with a company that would be worth 40-50% more if it just sold everything. I did not play with Potash or Agrium only because their drops were much smaller on the big sell off a month or so ago made some money with IPI and MON. MON is the only one on my buy list today. My biggest mistake this year has to be SHLD or MBC.to but SHLD is the most recent so I will go with that I bought it @ 39 and some change and sold for 42 then like 2 weeks later it was over 60 as the shorts covered, this would have added a few percent to my gains and I might even have been beating the S&P which I must say is pretty awsome! Considering the amount of risk taken never thought I would say this trailing the S&P but it has been a good year and hope it continues.
