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

To: robert b furman who wrote (54609)	7/10/2015 4:15:11 PM
From: E_K_S	Read Replies (2) \| Respond to of 78918

Re: ConocoPhillips (NYSE: COP) peeled off a bit more COP and plan to put proceeds into WOPEY American Realty Capital Properties, Inc. (NASDAQ: ARCP) - upped my shares 50% Been selling a bit of my COP originally bought 12/2009 @ $39.22 (pre spin off of PSX). I think WOPEY has a better value proposition w/ their exposure to NG. They also pay a higher dividend. Added a bit more of ARCP now w/ a 11% dividend for my ROTH account. Company is re-structuring and hopefully a new management will be installed that better reflects shareholder's interests. Total position still quite small after my sale of shares at $10.20/share when the news of their restructure hit the street. The company generates good FCF and their properties seem to be of good quality and show a significant discount to their dividend. Maybe the market is discounting the future cash flows on higher interest rates in the future. FWIW the GN for ARCP is $13.96/share so at the current price of $8.41/share the stock is 65% undervalued. I am not sure how the GN can forecast/value higher interest rates but it would be reflected in lower EPS. REIT's usually use a higher amount of leverage too. EKS

To: robert b furman who wrote (54609)	4/23/2018 2:32:10 PM
From: E_K_S	1 Recommendation Recommended By Ditchdigger Read Replies (2) \| Respond to of 78918

Conocophillips (COP) - peeled off 15% of COP shares @ $65.00/share (bought this lot 2/2009 at $30.00/share. Dominion Resources (D) - Did a 30% add to D @ $64.80/share. This increases the dividend as COP yield is only 1.75% vs D @ 5.06% yield. COP was A buffet Buy. This last BUY in 2009 for COP also included the spin off of PSX 5/2012 valued at $33.34/share. Those COP shares after the spin off were $56.10/share. Since then PSX has increased in value to $110.00/share. So, that COP Buffet Buy was an excellent value purchase when you factor in the PSX spin off. I continue to hold most of the PSX shares (did sell about 35%) w/ the last sale 4/18/2018 @ 109.10/share. The proceeds from that sale and today's COP sale was moved into a 30% Buy in D. The plan is to continue to lighten up the portfolio in NG & Oil (especially as we see three year high in the price of WTI) and move those proceeds into utility and specialty Ag/Food processors & distributors. Other than D, the other utility I have as a value Buy is PPL. I have only a 1/3 position in PPL and a 2/3 position in D. The Buys are triggered if/when I do any sales in the Oil?NG and/or pipeline stocks. EKS