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

To: Jurgis Bekepuris who wrote (55284)	5/5/2015 10:52:01 PM
From: Spekulatius	Respond to of 78627

GDWN.L and SFTBY look interesting. I own a small amount of SFTBY and I think I will buy more once it falls back below 30$ again. FWIW, I bought some CSG @7.45$. It's been a good trading stock for me no I think the departure of the CEO is a good thing for this REIT. I am not crazy about REIT stocks at this point, but I think running up a small/ medium sized sector bet on this sell off is OK.

To: Jurgis Bekepuris who wrote (55284)	5/9/2015 11:22:16 AM
From: LT-Optimist	Read Replies (1) \| Respond to of 78627

Noted that "FRMO" is one of your larger positions; just wonder what's your opinion on the company. I've added a small$ position to my holding during recent price weakness.

To: Jurgis Bekepuris who wrote (55284)	6/8/2015 1:22:05 AM
From: Jurgis Bekepuris	1 Recommendation Recommended By Mattyice Read Replies (2) \| Respond to of 78627

My top (>2%) positions in no particular order: FRFHF, JPM, LMCA, STRZA, SFY bonds, BRKB, SFTBY, TESB.BE, FRMO, MKL, LBTYA/K, GDWN.L In: Out: Fixed income: ~10% Cash: ~18% Sectors (kinda): Insurance (including BRKB and FRFHF): 23%, Malone/media: 12%, Banks: 6%, Oil 11%, Tech 2%, Various owner-operators (not included in other categories) 16% New positions: CHK, AXP, KHTRF Positions increased: PRDGF, FMCKP, DNR, FRFHF, SFTBY Positions reduced: DRAGF Positions eliminated: TPRE, AGIIL, MHNC, SRLN Flip-flop: I have eliminated most of my fixed income positions (AGIIL, MHNC, SRLN) not counting SFY bonds. I think that holding cash might be preferable here compared to holding various bond, bank loan, pref positions. I sold TPRE after deciding that their (re)insurance results and 2/20% cost headwind are too adverse for holding this position. I sold some more DRAGF after they announced the official bid for the company and the stock ran up. I am still holding some. Put some of DRAGF money into my oil basket with CHK, DNR purchases. After reviewing my oil positions, I don't think they are very attractive, so I might not buy more at current prices. In particular, I don't think that CHK, DNR are the best places to put future money. :) Increased positions in PRDGF, FMCKP, FRFHF, SFTBY at flat to lower prices. Bought exploratory position in AXP. I don't think the price is very attractive yet, but the company still has a good franchise and brand, so I'd like to have my toes in waiting for possibly better prices. Bought a small position in KHTRF - Canadian biotech/pharma holding company at a price close to cash assets with shareholder oriented management.

To: Jurgis Bekepuris who wrote (55284)	6/29/2015 7:24:00 PM
From: E_K_S	Read Replies (1) \| Respond to of 78627

Woodside Petroleum Ltd. (WOPEY) - A 30% add to my current position @ $26.11/share U-Swirl, Inc. (SWRL) - Closed out position (selling my stub shares) booked 50% gain on investment Crestwood Equity Partners LP (CEQP) - upped position by 20% @ $4.26/share I continue to build my WOPEY position which is now 70% complete. This will eventually be one of my top 10 holdings replacing a NG gathering MLP (CMLP) that is being merged into CEQP. WOPEY continues to build out their NG infrastructure in Australia and recently announced they will develop an export facility JV w/ Sempra Energy in Texas. Sempra LNG And Woodside Sign Memorandum Of Understanding For Potential Development Of Natural Gas Liquefaction Facility At Port Arthur, Texas WOPEY will be a survivor and has long term LNG supply/delivery contracts w/ Asian clients that s/d help stabilize their future cash flows. I will be watching the progress of their MOA w/ Sempra and if they can complete a deal to construct a U.S. based export facility. I also have a few other investments (mainly through MLP's) that have exposure in one or more LNG export facilities (DPM, WPZ) and General Partners KMI (through their EPB acquisition) & WMB but none are pure plays. WOPEY seems like the best 'pure' value play to get exposure to the export LNG market. I may eventually sell some of my NG gathering/processing/storage MLP's if /when WOPEY shows sustained growth as they expand their world footprint in NG exploration/production and LNG processing/transportation. Their management appears to have a better track record than my MLP's in both scaling for growth and day-to-day operations. Closed out the last of my SWRL shares as my plan was to sell at/near Summer when yogurt prices s/d be at/near their high in sales and revenues. Their last report was not really encouraging and the stock price has been trading at their low end. I did book a 50% return on the overall position buying at/near BV @ $0.27/share and selling out the majority of my shares @ $0.42/share. Even at BV their asset quality was only fair w/ much of the value in signed franchise fee contracts and/or goodwill. During the period Rocky Mountain Chocolate Factory Inc. (RMCF) (their large investor) did build and operate several new company owned stores that added value. Crestwood Midstream Partners LP (CMLP) and Crestwood Equity Partners LP (CEQP) both are trading at multi-year lows after they announced the consolidation and merger of these two MLP's. This is one of my largest MLP positions. I like their geographical footprint of operations. They provide gathering, processing, storage service w/i the U.S.. The merger eliminates the CMLP IDR's providing for better distribution coverage and growth (according to the General Partner). It really benefits the GP but since they own 40% of the units it does benefit the unit holder. My strategy has been to buy CEQP units on the dips and sell my CMLP units on rallies. The merger was set at 2.75 CEQP units for each CMLP unit. CEQP distribution yield hit 13% today. Some new management and organizational changes were made recently but I am still skeptical of their long term operational performance. GP has stated that additional FCF will be invested in growth projects that may add 3% to the distribution in the next few years. The only certain fact is that the CMLP IDR's will terminate once the merger is completed in Q3. EKS