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

To: Jurgis Bekepuris who wrote (53690)	4/8/2014 1:38:20 AM
From: Spekulatius	Respond to of 78625

I also added LMCA @125.5$. Reduced BAP @140.5$ and TPCA (a little) at 18.55$ to raise more cash. Averged up on some LAACZ (real estate partnership) @1155$. I really loved their last annual report. Some of the larger banks are getting interesting again - C trades at a decent discount to tangible book and <10x earnings after the stress test disaster. This may become a decent bet below 45$ again. HSBC trades around tangible book @50$, PE~10x and they pay a 5% and rising dividend. This is a much better bank than C, imo. I own some STAN.L @1240 (-40pence dividend). This is one of the better managed banks, with a focus on Asia and Afrika. The stock trades at ~10x earnings and ~1.15x tangible book (hope my calculations are correct as far as book is concerned). I think HSBC and STAN.L come closest to being a value buys at this point.

To: Jurgis Bekepuris who wrote (53690)	4/8/2014 1:14:32 PM
From: Paul Senior	1 Recommendation Recommended By Brian Sullivan Read Replies (1) \| Respond to of 78625

Auto stocks: While shares of BMW have advanced, those of Toyota have declined. finance.yahoo.com I'll add a few shares here to my losing position in TM. (I've no interest in BAMXY at current price. -- Am still holding my position in Volkswagen though, fwiw. Also couple of other auto mfgers.)

To: Jurgis Bekepuris who wrote (53690)	5/8/2014 9:43:58 PM
From: Jurgis Bekepuris	Read Replies (1) \| Respond to of 78625

My top (>2%) positions in no particular order: MGDDY, JPM, MHNC, GLW, DRAGF, BKLN, LMCA, CF, BRKB, WDC. In: Out: Fixed income: ~18% Cash: ~16% New positions: Positions increased: LMCA, LBTYK, TPRE, MKL, GS, VRSN, STRZA Positions reduced: PFHO, HY, Positions eliminated: CAM.L, INTC, TSCDY Flip-flop: Not a very exciting month. I sold CAM.L position. The stock is cheap on P/B basis, but I am not sure they can monetize their B. Sold INTC. Stock is not cheap based on latest results and I am not sure they will show better results in the future. Sold TSCDY. I am not sure about their future success either. Reduced positions in PFHO and HY. Both stocks are highly valued. I continued to buy Malone companies (LMCA, LBTYK and STRZA). Not cheap. I'll post some thoughts separately. Bought some TPRE, MKL. Insurance and reinsurance companies seem to be heading into tough times. I am pretty confident that MKL will do OK even if they have couple rough quarters or years. With TPRE and GLRE, I am not so sure. Reading Buffett's biography, it seems that even "good" insurance companies periodically get killed. Bought some GS. Another one which seems cheap based on current book and results, but might have issues if we go into recession or market downdraft. VRSN. Not very cheap, but I think it might be a good buy here. It seems that they should continue doing OKish, although I can't say I know all the ins and outs of their business. Also posted on my blog: buffettstocks.blogspot.com