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

To: Spekulatius who wrote (53733)	4/9/2014 11:14:33 PM
From: Jurgis Bekepuris	Respond to of 78667

CAM.L - their 2013 numbers should come out on 4/24 if I remember correctly. I still hold a position. Also still hold Vastned that you sold.

To: Spekulatius who wrote (53733)	4/28/2014 11:24:46 AM
From: Jurgis Bekepuris	Read Replies (1) \| Respond to of 78667

CAM.L - so what did you think about 2013 report? It is cheap on P/book basis and P/E, P/OCF basis. P/FCF is high though, since FCF sucks. Businesses are hodgepodge and remain so. Agriculture seems to suffer from various issues at various places - the only positive is that they diversify, so when tea is down, avocados are up, when Bangladesh is up, Brazil is down, etc. Engineering division remains a mess. Banking division might not be a mess, but also does not perform well. Overall, I think the management is well intentioned and conservative, but the company seems to be a patchwork of so-so businesses. Might be worthwhile holding to get some exposure to UK and emerging market agri sector, but I am not sure...