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

To: Spekulatius who wrote (53195)	1/17/2014 1:10:06 AM
From: Jurgis Bekepuris	Respond to of 78744

I own all four :) (FMBL, OVLY, JPM, BAC) Actually in total six: + GS and BK FMBL - book growth only 5.8%. Income dropped. Shares ran up. At this point, I don't think they are very attractive. Hold possibly. I don't see great return. I don't see the company being worth much more than current price. OVLY - I think it's regular divvie. At least Yahoo shows annual divvie at .4 and yield at 4.8% Both JPM and BAC continue to be reversion-to-no-litigation-payments candidates. Both still have great brands and potential to flourish. GS is somewhat tough for me to hold. It continues to be risky. If market drops, it's likely to drop a lot too. I don't particularly like its investment banking business. It's not clear where the growth or multiple expansion would come from. They are still making tons of money though. I am constantly considering moving money within the group and to WFC. Haven't done any shuffle yet.

To: Spekulatius who wrote (53195)	1/24/2014 11:25:56 PM
From: Spekulatius	Read Replies (5) \| Respond to of 78744

Interesting day. I sold the remainder of my JMHLY @54.4$ (which inexplicably was up and exchanged part of the funds into JSHLY @16.02$ ). I regard both as economically equivalent but JSHLY has underperformed, in particular today. I also bought back some SWRAY yesterday @11.14$. I bought a small position in KMI warrants @3.41$. I regard them as undervalued relative to the stock. Found a liking in Y (Allegheny) @376$ and bought a starter position. This is a mini Berkshire insurance holding with some equity holdings. Book should exceed 400$/share by now and I think Y has rarely lower than 0.9x book. Right now, the price is 0.94x book (based on the balance sheet from 9/30/2013). This is simple low risk book value compounder. OVLY caught a nice bid today. I assume this is a reaction to the pleasant earnings surprise a few days ago, when they announced 0.22$ In earnings, which was up 15% qoq. I guess that also explains the 0.1$ dividend. I think OVLY is worth at least 10$ and still would not be expensive. Wish i had more...